GOOGLE mix-up caused $1B run on UNITED AIRLINES

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Submitted by shipofgold on Saturday September 13, 2008 @08:09AM

shipofgold writes "The US Securities and Exchange Commission has opened a "preliminary inquiry" into how an outdated bankruptcy story sparked a $1 billion run on an airline's stock value. The article about how United Airlines filed for bankruptcy in 2002 was revived when it showed up on a newspaper site's "most viewed" section on Monday. From there it was picked up by Google News and later seen by alarmed stockholders. The stock plunged from around $12 to just $3 a share before trading was halted."

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GOOGLE mix-up caused $1B run on UNITED AIRLINES

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GOOGLE mix-up caused $1B run on UNITED AIRLINES