SOURCE: American Commercial Lines Inc.

American Commercial Lines Inc.

September 28, 2009 08:30 ET

SEC Closes Inquiry Involving American Commercial Lines

JEFFERSONVILLE, IN--(Marketwire - September 28, 2009) - American Commercial Lines Inc. (NASDAQ: ACLI) ("ACL" or the "Company") announced today that the U.S. Securities and Exchange Commission (SEC) has confirmed it will not take action against the Company and has closed an inquiry related to an e-mail sent by the Company's former Senior Vice President and Chief Financial Officer on June 16, 2007 and disclosed by the Company in the filing of a Form 8-K on June 18, 2007. The executive ceased being an employee of ACL in March 2008.

The Commission has issued a cease and desist order, consented to by the former employee, mandating that he not violate Regulation FD in the future.

Michael P. Ryan, President and Chief Executive Officer of ACL, said, "We are pleased that the SEC has recognized the Company's emphasis on corporate compliance and its strong commitment to a level playing field for all investors. Throughout the inquiry, we cooperated fully with the SEC, and we are pleased that it has concluded and the Company can put this issue behind us."

American Commercial Lines Inc., headquartered in Jeffersonville, Indiana, is an integrated marine transportation and service company operating in the United States Jones Act trades, with approximately $1.2 billion in revenues and approximately 3,400 employees as of December 31, 2008. For more information about American Commercial Lines Inc. visit www.aclines.com.

Contact Information

  • Contact:
    David T. Parker
    Vice President, Investor Relations & Corp. Communications
    (800) 842-5491