Yes, it's true. It definitely is what it is for this news notice hidden on the server I happened to see. They tell you dates on when each service will shut down (listed them below), and tell you to take screen captures of things for memories' sake.
I will be doing an "Xover Memories" post during this week at some point. I have some things I'd definitely want to show off and tell about, as for my final thoughts about the game itself as a social game.