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United Airlines stock rapidly fell to 1 cent, down $12.29, on September 8, 2008 after an incorrect article on South Florida Sun-Sentinel's Web site said the company had filed for bankruptcy. The article was reportedly based on a six-year-old story from the newspaper's parent company Chicago Tribune from 2002, when the airline did file for bankruptcy. The stocks recovered later in the day after it was clear the story was incorrect.Forbes.com: How A Botched Web Story Wiped Out... (September 8, 2008)
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Fast Facts
- United Airlines filed for bankruptcy in 2002Chicago Sun-Times: UAL shares plunge on erroneous... (September 8, 2008)
- Exited bankruptcy in 2006Chicago Sun-Times: UAL shares plunge on erroneous... (September 8, 2008)
- Stock fell from $12.30 to 1 centForbes.com: How A Botched Web Story Wiped Out... (September 8, 2008)
- Trading was halted 11: 30 to 12:30 p.m. until the United Airlines responded to the rumorForbes.com: How A Botched Web Story Wiped Out... (September 8, 2008)
- South Florida Sun-Sentinel reportedly reprinted a six-year-old article by mistakeForbes.com: How A Botched Web Story Wiped Out... (September 8, 2008)
- The article was pulled from the Web site and a correction was issued Forbes.com: How A Botched Web Story Wiped Out... (September 8, 2008)
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View All United Airlines Bankruptcy Report Questions (1263) | Ask a QuestionWhy are Southwest, Jetblue, and AirTran reporting earnings and Delta, UAL, and United Airways Group reporting losses? (1 Answer)I think it's what you said, as well as the fact that the bigger airlines have more debt and are in deep with bad fuel contracts. Smaller companies usually do ... read moreWhat is a prearranged bankruptcy? (1 Answer)From a Tri-City Herald article on Charter: In a prearranged bankruptcy, a company enters into reorganization with a plan to emerge that has the approval of major stakeholders. read moreWhat are the major airlines flying into Vera Cruz? (1 Answer)Continental Airlines flies between veracruz via Houston. Several airlines fly between Mexico city and Veracruz... http://adventuretravelinstitute.com/trips/veracruz/southernexplorer.htm read moreWhat are the discount airline flights into Mexico City? (1 Answer)Mexicana Airline which is a low fare airline Aerolineas Airline is also a low fare airline read more
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