Per the Detroit News MSU Twitter feed, and now Joe Rexrode. Not many details yet on why or how long; all Izzo has said is that the suspension is for the cumulative effect of academic problems -- Rexrode's language, not Izzo's, apparently -- and that he'll be out for at least Friday's game.
He won't practice with the team this week (edit: see below), and won't travel to Indianapolis for Friday's game, although he might be back a semifinal game on Saturday.
It's disappointing because Chris has matured so much as a basketball player this season; it seems that the maturation may not have continued off-the-court. Also (obviously), because he's been playing great basketball.
UPDATE #1: Quote from David Mayo's story: "Izzo said Allen would practice Wednesday in some capacity. 'Whether it’s with the team or not, I don’t know. He may have an individual practice with me,' Izzo said."
Also, more wonderful news from DetNews Twitter: "More breaking news: Delvon Roe says he will most likely need surgery on right wrist and right knee after the season. Been in pain all year."