Zenith Successfully Blocks Shareholders Lawsuit

Zenith National Insurance Corp. Thursday successfully staved off a move by shareholders to block a bid by Fairfax Financial Holdings Ltd. to acquire the Woodland Hills-based insurer for $1.3 billion.A Delaware judge denied a request by some Zenith shareholders to halt the sale to Fairfax, a larger insurer based in Toronto, Canada. Fairfax wants to acquire Zenith’s assets, valued at $2.4 billion on Dec. 31, and add them to the $29.8 billion it already manages.Chancery Court Judge J. Travis Laster in Wilmington concluded Stanley R. Zax, Zenith’s chairman and chief executive officer, ...