According to the court documents, the original agreement required Petroglyph to deliver a "Gold Master" (ready for distribution) copy of the game by November 15th, 2009 -- a delivery date later amended to February 1st, 2010. In mid-March, Petroglyph stated that a Gold Master version of Mytheon should be ready by the end of March, but additional funding was needed. The publishable copy was not received by the end of March.
True Games' complaints can be summed up in a short paragraph from the official document: "The repeated, unreasonable demands by Petroglyph for additional funds and concessions, combined with Petroglyph's apparent unwillingness or inability to deliver the final product, poisoned the working relationship between TGI and Petroglyph, such that the entire multi-million dollar venture is in danger of collapsing."
For Petroglyph's part, CEO Chuck Kroegel claims: "It was NEVER conceived to be a full-blown MMO, which costs upwards of $15 million and three to five years to complete. The trend, however, over the last months has been to move this game to the scope of a full-blown MMO."
The full court document has all the details.