Drexel Burnham Sued: USX Corp. has filed...
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Drexel Burnham Sued: USX Corp. has filed a suit in U.S. District Court in Pittsburgh accusing Drexel Burnham Lambert Inc. of deception in the sale of $24 million in short-term commercial paper in financially troubled Integrated Resources Inc. USX contends that as underwriter of the paper, Drexel withheld information about problems at Integrated, which defaulted on its debt shortly after the USX purchases. Integrated, a former high-flying real estate and insurance concern, has faced increasing troubles repaying its debt, which totals about $1.75 billion.
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