Apparently, on Monday Activision filed a Form 10-K with the SEC, which is basically an overview of the company's financial condition, and includes any information that could possibly affect that condition. This filing states, "In November 2009, the Company released Call of Duty: Modern Warfare 2, a game developed by one of the Company's wholly-owned studios, Infinity Ward. As noted above, Modern Warfare 2 was the best selling console title in the U.S. and Europe in 2009. Consistent with past practice, the Company intends to release a Call of Duty game in 2010 developed by another wholly-owned studio. The Company is concluding an internal human resources inquiry into breaches of contract and insubordination by two senior employees at Infinity Ward. This matter is expected to involve the departure of key personnel and litigation. At present, the Company does not expect this matter to have a material impact on the Company."
Co-studio head Jason West has reportedly changed both his Facebook status and LinkedIn page to indicate that he is no longer employed. As soon as we get more news, we'll pass it along.
Update: Activision has confirmed the departures of Vince Zampella and Jason West. Read here for more details.
[Thanks to everyone who sent this in!]