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Steve Jobs cleared on options backdating

Steve Jobs cleared on options backdating

Pixar executives including Apple CEO Steve Jobs have been exonerated of being complicit in stock options backdating at the animation company by new owner, Walt Disney.

Walt Disney says its own internal probe had identified some cases in which Pixar Animation Studios had backdated some employee stock options before being acquired by Disney (from Steve Jobs) in a US$7.4 billion all-stock deal last year.

John Pepper, chairman of the Walt Disney board, says: "The Audit Committee and the Board of The Walt Disney Company have completed their investigation into stock option practices at Pixar prior to the date of its acquisition by Disney.

"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."

The statement seems to clear Disney-Pixar chief creative officer John Lasseter and also Steve Jobs, (who now sits on Disney's board as the largest individual shareholder, following Disney's Pixar acquisition).

Jobs remains under scrutiny for historical options backdating practices at both Apple and Pixar.


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