http://www.reuters.com/article/2014/10/02/usa-housing-lawsuit-idUSL2N0RX2V620141002
Perry Capital appeals dismissal of case over Fannie, Freddie profits
Oct 2 (Reuters) - Hedge fund Perry Capital on Thursday appealed a U.S. federal court's decision to dismiss its suit challenging the government's policy of confiscating the profits of mortgage finance firms Fannie Mae and Freddie Mac.
Judge Royce Lamberth of the U.S. District Court for the District of Columbia on Tuesday threw out lawsuits brought by Perry Capital and other investors who argued the government's decision to sweep the profits of the companies into the U.S. Treasury was illegal.
The judge said the government had the authority under a 2008 law that laid the ground for its seizure of the two companies.
"The district court's decision overlooks important points of law and improperly resolved key questions of fact based on the government's cherry-picked record," said Theodore Olson, an attorney with Gibson, Dunn & Crutcher LLP, who filed the appeal on behalf of Perry Capital. (Reporting by Timothy Ahmann and Svea Herbst-Bayliss, editing by G Crosse)