NU Online News Service, Feb. 23, 3:44 p.m. EST

An investor advocacy group announced it is suing the board of Zenith National Insurance Corp. alleging Zenith’s planned $1.4 billion sale to Fairfax Financial Holdings Ltd. undervalues the company.

The Shareholders Foundation Inc. in San Diego said it had filed a lawsuit against the board of the workers’ compensation insurer in California State Court alleging its members had breached their fiduciary duties.

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