UAL Rebounds After Bankruptcy Rumor

Updated from 11:46 a.m. EDT

Shares in UAL (UAUA Quote), the parent of United Airlines, plunged Monday morning after a six-year old story proclaiming that the carrier had filed for bankruptcy protection mistakenly made the rounds.

UAL shares opened the session at $12.16 and plummeted as low as $3 before trading was halted. By the afternoon, the shares had mostly recovered, but they were still trading down 12% at $10.79.

The confusion began after a 2002 Chicago Tribune story headlined "United Files For Bankruptcy" appeared on some Web sites with a date of Sept. 6, 2008. United filed for Chapter 11 in December 2002 and left bankruptcy in early 2006. ...