Not only was all of it simply not true, it (should have been) impossible to even believe that taking $16,000 for over 10 years of research and development AND firing "an entire development team" that was responsible not only for the already established content, but also responsible for all the additional content. It simply doesn't even make sense.
Further more, it was addressed over at this thread:
http://spiralforums.com/viewtopic.php?f=54&t=1677On top of that, Daniel, the original creator of the Polycount thread that "started" all of this, has said this:
"To anyone who has read the thread I created on PolyCount or the several others that have been created off of it.
Reddit etc. Me and Spiral Games have reached a mutually beneficial solution.
Id like to also say that by no means did i intend for that thread to get out of hand like it rapidly did. Everything between Spiral Games and myself is settled."
However, you were right about the credit towards Spiral Game Studios being illegitimate and incorrect and it has since been edited and fixed in all news post controllable by us.
Now it's time to move forward and continue making sweet games. Focus on the news at hand here, people.