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In a statement to the press, John E Pepper Jr, chairman of the Walt Disney board announced that 'the [audit] 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.'

It continues, 'The Board further determined that Disney should address the additional income tax liability issues facing Pixar employees who hold such options, including participating in programs established by the IRS and the State of California to facilitate the payment of such taxes on behalf of employees. The Company expects that the impact associated with remedying these tax issues will not be material to the Disney

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financial statements.'

A similar investigation inside Apple itself, led by board member and former US Vice President Al Gore, last year cleared Jobs of wrongdoing at that firm.

Although cleared by Disney's own investigation, the Financial Times reports that 'Jobs remains under scrutiny from federal authorities whose investigations into backdating at Pixar and Apple are ongoing'.

At Apple, meanwhile, the company has announced that tax and interest may now be due on some exercised stock options that it granted to employees between 1997 and 2002, and that the company would meet these costs.

In an email to options holders, posted on the US SEC website, the company has offered to amend the price at which the stock options were secured so that holders may avoid liability for tax, and make up the shortfall by issuing each with a cheque for the appropriate amount. The payments would be made 'on or promptly following' 25 January next year.

The deadline for eligible candidates to submit their claims is 5pm on Monday, 16 April, 2007.