What´s This? A Regulation FD Enforcement Action?

Last week's settlement of a Reg. FD action by the SEC against the CFO of American Commercial Lines (ACL) seems like a throwback to an interrupted line, to the enforcement actions from 2002 to 2005 that slowed to a crawl with the "Siebel II" action in late 2005. The SEC had an attractive fact pattern with ACL in which to break its silence: ACL's CFO, also its de facto investor relations officer, sent an email from his home on Saturday to eight sell-side analysts updating guidance and cutting in half the publicly released earnings guidance. ACL did not release a Form 8-K with the updated information until Monday, and the resulting analysts' reports led to a significant drop in ACL's stock price.