We are scramblling right now . If anybody has anything they deem important, trade ticks, insights, please put it up. Thanks. .
is it true that the ruling was made by one person. I was told that when i called Nasdaq....way too shady if so?
Now you're catching on. And thanks for that info. It's important. Think for a sec the amount of money that 'decisioin'was worth, and who was effected. Amazing, isn't it?
yeah i bet 1 person is deciding on something this important. usually thats the case. but im guessing this went right to the top person in charge of this to look at. it is very standard a situation like this to review all trades because they where going to get hundreds of calls. What was "clearly erroneous" about these trades? There are no "do overs" or mulligans like in golf. basically someone committed fraud. but people people saw the news and hit the stock down on that. since no prints where that far from the last print the trades stood.
Truly hilarious that people were selling down 70% based on a Chicago gutter rag. Lol, how do you top that - National Enquirer headline knocks GE down 70%? Next thing we know, people will be vaporizing billions based on headlines in the Onion!
It was a sun sentinel rehash of a 2002 Chicago Trib article that was posted on bloomberg by a third party who has permission to do such. The article was authored by two reporters who don't work there any more. I sure it was just an innocent mistake. the authorities are not amused.
United Airlines' stock fell more than 75 percent Monday morning after a nearly six-year-old Chicago Tribune news report was posted on Bloomberg News Service. The stock, which had closed Friday at $12.30 a share, hit a low of $3 a share before the confusion was cleared up. The stock was trading recently at $8.97, down $3.03 for the day. After being alerted to the issue Monday morning, the Chicago Tribune removed the story from its online archives which are also accessed by other Tribune Co. newspapers. The South Florida Sun-Sentinel's version of the story was the one that was cited by Bloomberg. The story did not appear on the Web site of the Chicago Tribune. In a statement this morning, United said it has demanded a retraction from the Sun-Sentinel and is launching an investigation. United exited bankruptcy in February 2006. "United continues to execute its previously announced business plan to successfully navigate through an environment marked by volatile fuel prices and continues to have strong liquidity,'' the statement added. Joe Schwerdt, deputy managing editor-interactive for the Sun-Sentinel, said internal tracking records show that no one at the paper had opened the original story file since 2003. The story would have been available via a search on the site, but no one outside the paper should have had access to the story file, Schwerdt said. The Sun-Sentinel story did not have any discernible impact on United shares until after 10:53 a.m., when it was posted to the Bloomberg financial news service. The story was posted to Bloomberg by a Miami, Fla. investment advisory firm, Income Securities Advisor. <B>A reporter for Income Securities, which posts stories about distressed debt securities directly to Bloomberg, became aware of the story early Monday after searching for bankruptcy situations using the Google search engine. The Sun-Sentinel story was the first story in a list of Google results, said Richard Lehmann, president of Income Securities.The stock, which had closed Friday at $12.30 a share, hit a low of $3 a share before the confusion was cleared up. The stock was trading recently at $8.97, down $3.03 for the day.</B>