New York - A false rumor that United Airlines had filed for bankruptcy briefly clobbered the shares of parent company UAL Corp. before trading was halted Monday morning.
United spokeswoman Robin Urbanski immediately denied the rumor flatly.
UAL shares dropped to 1 cent from $12.45 when the rumor first surfaced. The shares dropped suddenly just before 11 a.m., but shares recovered to nearly $9 within the hour.
Bloomberg News reported that the shares fell after a 2002 Chicago Tribune news report on the carrier’s bankruptcy filing was incorrectly republished on the Bloomberg financial news system by Income Securities Advisors Inc. Income Securities Advisors retracted the report and published a correction.
The Nasdaq stock market halted trading Monday morning until United could address the rumors.
This embarrassment is the the second time in a few weeks when Bloomebrg Television reported that Apple CEO Steve Jobs Died.
Source: AP
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