SECURITIES

Drexel Sues 2 of Its Former Executives: The federal government and former investment banking powerhouse Drexel Burnham Lambert Inc. has sued to recover more than $6 million paid to two ex-employees who admitted to insider trading. The complaint charges that Martin A. Siegel and Dennis B. Levine betrayed Drexel by breaching “their fiduciary and contractual duties,” thus contributing to the collapse of the once-mighty junk-bond brokerage that filed for bankruptcy court protection two years ago. Siegel was co-head of Drexel’s mergers and acquisitions department, and Levine was a mergers and acquisitions specialist. In addition to back pay, the suit asks for damages to cover “all losses incurred by Drexel as a result of defendants’ illegal conduct.”