Here's the chain of events so far.
Around September Perpetual postponed the release of Gods and Heroes and laid off ~40 developers saying that the game would be undergoing further beta testing to focus on "quality and polish". -gamasutra
In October Gods and Heroes was put on 'indefinite hold' so that Perpetual could focus on Star Trek Online. -gamasutra
Then in November news leaked out that Perpetual was liquidating assets to pay off creditors and that Gravity, one of its investors, expected to loose the entirety of its 9 million dollar investment. -gamasutra
In December Perpetual's PR firm Kohnke Communications filed suit claiming fraudulent business practices in the transfer of the Star Trek License during the liquidation which went to another Perpetual entity, P2 entertainment. -gamasutra -TTH lawsuit info
Now (January) it has been announced that Perpetual is no longer working on Star Trek Online and that development has been transferred to an undisclosed developer -wired
Troubled times for the game at the very least. It seems extremely probable that this game will die in development before ever being released.