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

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

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.

Last month, Icahn and his company agreed without admitting wrongdoing to pay $2 million in civil fines to settle U.S. Securities and Exchange Commission charges he did not disclose pledging large quantities of shares as collateral for his loans.

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.

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.