Pixar Options Probe Clears Jobs

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Shares in Walt Disney Co. were up Monday after the entertainment company said late last week that its investigation into stock options backdating at Pixar studios found that no one currently associated with Disney “engaged in any intentional or deliberate acts of misconduct.”


The investigation, which started last summer, found backdated stock options at Pixar before Disney bought the animation studio last summer for $8 billion. However, the probe cleared Steve Jobs, who ran the studio, and other executives of wrongdoing. Jobs is now Disney’s largest shareholder and a member of the company’s board. He was absolved in a similar options backdating investigation at Apple Inc. two months ago.


At the root of the investigation were options Pixar granted in 2000 to John Lasseter, creator of “Toy Story” and “Monsters, Inc.,” and then-President Edwin Catmull, which allowed them to buy stock at the lowest prices of that year. Both are employed at Disney.


Shares in Disney were up 33 cents, or 1 percent, Monday in afternoon trading on the New York Stock Exchange.

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