The SEC has dropped a stock options backdating investigation against former Pixar CFO Ann Mather. Reuters reports that an August 10, 2009 letter from the SEC’s Los Angeles office to Mather’s attorney states that “[t]his investigation has been completed as to Ann Mather, against whom we do not intend to recommend any enforcement action by the Commission.”
Mather reportedly received a Wells notice from the SEC 16 months ago indicating that the SEC staff intended to recommend that civil charges be brought against her. A source told Reuters that Mather “responded to the Wells notice and there was, over the last year, quite a bit of communication with Commission staff about her defense.”
