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.

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

Shares of holding company and industrial conglomerate Icahn (NYSE:IEP) jumped 10.2% in the morning session after the company announced the dismissal of a proposed class action lawsuit against Icahn Enterprises (IEP) and its executives.

On news that a potentially resource-draining lawsuit against the company had been dismissed, units of master limited partnership Icahn Enterprises ( IEP 14.54%) leaped almost 15% in price on Monday. This occurred on a rather sleepy trading session for stocks, with the S&P 500 index only bumping 0.1% higher.

Carl Icahn's investment company Icahn Enterprises won the dismissal of a lawsuit claiming it artificially inflated its share price by issuing unsustainably high dividends to help the billionaire investor obtain large amounts of personal loans.

Shares of Icahn Enterprises (IEP) are rising after a US district court dismissed a class action lawsuit that accused founder and chairman Carl Icahn and the company of defrauding shareholders. The suit referenced a Hindenburg Research report from 2023 that accused Icahn of overseeing a "Ponzi-like economic structure" through inflating share prices and paying out excessive dividends.

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.