UPDATE 1-Pershing Square sues U.S. over Fannie Mae, Freddie Mac
August 14, 2014 at 20:06 PM EDT
Aug 14 (Reuters) - Pershing Square Capital Management LP, the hedge fund firm run by William Ackman, has sued the U.S. government, claiming that its stripping of Fannie Mae's and Freddie Mac's profit illegally short changes investors in the mortgage companies' common stock.