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Disney Offer to Clear Backdated Pixar Stock Options

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  • Disney Offer to Clear Backdated Pixar Stock Options

    Disney Makes Offer to Clear Backdated Pixar Stock Options

    Los Angeles - April 10, 2007

    In an attempt to finally clear up issues surrounding the Backdating of Stock Options, Disney has offered to exchange the $323 million worth of Pixar Stock Options. Stock anaylists are not surprised at either the extent of the amount needed to be exchanged nor by the move. "(It) was generally within the range of what we thought would happen." said Dave Miller of Sanders Morris Harris, "I'm not really that concerned. I think that this is something that Disney will settle and this is something that will quickly go away."

    Disney stock (DIS on the NYSE) is up 6 cents on the news.

    More on this story check out Rueters at Yahoo.com
    Check out my other blog:

  • #2
    Re: Disney Offer to Clear Backdated Pixar Stock Options

    The Pixar stock options mess was more widespread than anyone knew ... though the Mouse House now is doing its best to apply some significant Band-Aids.

    Company has acknowledged that many mid- and lower-level employees received backdated options at the toon company, not just execs.
    The plot thickens and the story continues at:

    Stock mistake will cost Disney
    Studio paying for Pixar's problems
    http://www.variety.com/article/VR111...goryid=18&cs=1
    "If you don't know how to draw, you don't belong in this building" - John Lasseter 2006

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