Disney finds backdated Pixar stocks; clears Jobs

Walt Disney has confirmed that it has found backdated stock options at Pixar prior to its acquisition in January 2006 and has cleared Steve Jobs (CEO of Pixar at the time) of any wrongdoing. "The Committee and Board have concluded that while options were backdated at Pixar prior to the acquisition, no one currently associated with the Company engaged in any intentional or deliberate acts of misconduct," said Disney in a prepared statement. So much for all the headlines placing Jobs under a dark spot light. Who cares if it's incorrect, it makes a popular figure look bad! To the printers I say! Disney said that it should also address the additional income tax liability issues facing Pixar employees who hold the options. The company doesn't expect the tax issues to affect its financial statements.

News source: Macworld

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