According to the story, "Infinity Ward studio heads Vince Zampella and Jason West reportedly met with Activision this morning and have not been seen by Infinity Ward staff members since." Later in the day, non-uniformed "bouncers" arrived at Infinity Ward, but would not explain why they were there.
No official word has been released by either company at this time.
Update (3/1/10): Earlier today, Activision filed an SEC report that mentioned looking into "breaches of contract and insubordination by two senior employees at Infinity Ward" and noted "this matter is expected to involve the departure of key personnel and litigation."
Additionally, a post on Facebook by Infinity Ward president Jason West, confirmed to be legitimate, mentions being newly unemployed. West has also updated his LinkedIn profile with a March 2010 end-date for his position at IW.
Update 2 (3/2/10) Studio head Vince Zampella has likewise confirmed a March 2010 departure from Infinity Ward via LinkedIn. As before, we'll keep you updated.