I played the AMR bankruptcy too. With the US Airways merger, US Air stock (LCC ticker) was relisted as AAL, and AAMRQ shareholders (along with other stakeholders such as unions, debt holders, etc.) were given new shares of AAL. The thing that struck me about that bankruptcy was that you could go online, read all the publicly available documents from the bankruptcy proceedings, and find out exactly what AAMRQ shares were going to worth in new AAL (former LCC) shares. The share distributions were based on the trading price of LCC. All other AA stakeholders were paid off in new AAL shares at fixed dollar amounts, AAMRQ shareholders got whatever was leftover. So the higher the price of LCC (then subsequently AAL) at the time of each of the five share distributions, the more AAL shares that each AAMRQ shareholder would receive at for that distribution.
Again, this was ALL public information when the company was in bankruptcy. Anybody could read the filings and do the calculations (based on LCC's share price) to figure out how many new AAL shares each AAMRQ share was worth when the merger completed. I did this and noticed that there was a HUGE difference in what AAMRQ shares were trading for and what they were worth in new AAL shares. I bought quite a bit. But I didn't buy as many as I should have because I couldn't believe that the market could be so incredibly wrong.
Anyway, my point is that there is a lot of information out there beside what news organizations publish. Plenty of rewards will be had by those that do their own DD.
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