United Airlines Bankruptcy - FALSE

September 8, 2008 | No comments

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An article that appeared in the South Florida Sun-Sentinel reported on a United Airlines Bankruptcy story. The only problem was that their source was a Chicago Tribune article that was over 5 years old.

After news of the bankruptcy came out, shares of the stock dropped by 76%, then United Airlines announced that the article was wrong and they were not filing for bankruptcy, at which point the stock regained most of its losses.

It’s not clear how the South Florida Sun-Sentinel could have fcked up so badly. It also sucks for anyone who sold their stock after it had dropped on the “false bankruptcy” news. Someone should lose their job for this one.