Carl Icahn is among the most influential activist investors in the market. When Icahn steps into a stock, many management teams start shaking in their boots. That’s because this man has quite the track record of inspiring change at many of the largest and most powerful companies in the world – a service many view

Carl Icahn said on Monday he was pleased a federal judge dismissed a lawsuit accusing the billionaire of defrauding shareholders of his investment company Icahn Enterprises so he could obtain large amounts of personal loans.

Activist shareholder and billionaire Carl Icahn was taking somewhat of a victory lap Monday, after a judge dismissed a proposed class-action lawsuit against his company, finding it did not make material misrepresentations or omissions as alleged in a report by short seller Hindenburg Research.

The lawsuit's allegations were tied to a short-seller's report that accused the company of overstating the value of its private asset portfolio.

Icahn Enterprises said a judge dismissed a proposed class-action lawsuit against the company and some of its directors.

A U.S. District Judge dismissed a lawsuit against Icahn Enterprises, which claimed the company artificially inflated its stock by issuing high dividends to support Icahn’s personal loans. Judge K. Michael Moore ruled that the shareholders failed to prove misrepresentation or intent to defraud.