UAL Corp (UAUA) Halts Trading After Bankruptcy Report Slams Stock

September 8, 2008 11:51 AM EDT

Shares of UAL Corporation (Nasdaq: UAUA) were halted for trading mid-day today after plunging as much as 75% on an old headline from the Chicago Tribune that the company was filing for Chapter 11 Bankruptcy protection.

The old headlines made it to the Bloomberg terminal and traders were selling hand-over-fist.

A company spokesperson clarified the situation, denying the rumors and verifying that it was an old story that was being recirculated.

The stock will likely re-gain all the losses after re-opening.

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