Financial Times FT.com

United Airlines shares plunge 75% after six-year-old bankruptcy story

By Justin Baer in New York

Published: September 9 2008 03:00 | Last updated: September 9 2008 03:00

United Airlines plunged yesterday after a false report that the carrier had returned to bankruptcy court surfaced on the internet.

A six-year-old Chicago Tribune story on United's 2002 bankruptcy filing, spotted on a Google search yesterday morning by an investment newsletter, triggered a massive sell-off of the carrier's shares until trading was halted. The stock reached a low of $3, then rebounded once trading resumed to close at $10.92. Shares had ended the day at $12.30 on Friday.

You have viewed your allowance of free articles. If you wish to view more, click the button below.

Read this