United Shares Halted On False Bankrputcy Rumor

By: Associated Press Email
By: Associated Press Email

Chicago (AP) A false rumor that United Airlines had filed for bankruptcy briefly clobbered the shares of parent company UAL Corporation before trading was halted on the NASDAQ.

United spokeswoman Robin Urbanski immediately denied the rumor flatly.

UAL shares dropped to just 1 cent from $12.45 when the rumor first surfaced.

Urbanski said Monday that the Florida Sun-Sentinel had recently posted a 6-year-old story from the Chicago Tribune and changed the date. The story was related to the carrier's bankruptcy filing in 2002.

United exited bankruptcy protection in 2006.

The airline has demanded a retraction.

The story no longer appears on the Sun-Sentinel's web site.

United is the dominant carrier at Denver International Airport.

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