SECURITIES

Judge OKs Settlement Between Drexel, Ex-CEO: A federal bankruptcy judge approved a settlement allowing former Drexel Burnham Lambert Inc. Chief Executive Frederick H. Joseph to help regulators pursue claims against the collapsed firm. Under the deal, Drexel and Joseph will drop charges against each other in exchange for Joseph’s help as a consultant in tracking down assets and defending claims on behalf of the Drexel estate. The settlement was approved by U.S. Bankruptcy Judge Francis Conrad. Drexel, the once-powerful Wall Street firm, is reorganizing under Chapter 11 of federal bankruptcy laws after its collapse in February, 1990. Drexel has sued its former star employee, junk bond financier Michael Milken, and others in an attempt to recover billions of dollars in claims for alleged fraud.