The Stale Story That Nearly Killed United Airlines

It's amazing that this kind of thing doesn't happen more often. An investor newsletter picked up an old news story that made it appear that United Airlines was again seeking bankruptcy protection.

A six-year-old Chicago Tribune story on United’s 2002 bankruptcy filing, spotted on a Google search on Monday 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.

It's something that can happen if you don't read the dates of reports online. You can bet that the airline, investors, and others are looking at how this happened and whether any legal action might be warranted.