It was true! Diablo II Ladder will reset on June 17th according to Drysc:

We will be performing a Diablo II ladder reset on June 17 beginning at approximately 9:00 a.m. PDT. The reset is anticipated to require approximately six hours of downtime to complete, and during that time all Diablo II Battle.net realms will be unavailable for play. When the reset occurs all existing ladder characters will be moved to non-ladder. This provides a fresh start and new competition for leveling supremacy on the ladder realm.

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For more information on the Diablo II ladder please visit our Ladder FAQ at
https://www.battle.net/diablo2exp/faq/ladder.shtml

How does the Diablo II Ladder work?
Players created as Ladder Characters appear on the ladder listings. If your character is not created as a ladder character it will not appear on the ladder. It’s as simple as that! For more information about Ladder Characters go here.

Why does my character not appear on the Diablo II Ladder?
You must create a ladder character. To learn more about ladder characters, go here.

When will the ladder be reset?
There is no official date. If we plan on resetting the ladder, we will announce it on our web site.

What happens to a Hardcore Character’s ladder ranking when he dies?
Hardcore Characters remain on the ladder even after they die. They will only lose their place as people get more experience than them and push them further down the ladder. They will fall off the ladder completely if they fall past rank 50.

Are prizes given to the top Ladder Players, like in StarCraft and Warcraft II?
We have made no announcement concerning prizes. Watch our Diablo II and Blizzard web sites for any updates on this issue.

Do the top Ladder Players receive a special icon or avatar in the Battle.net Chatroom?
There are currently no plans for this.

Are Open Characters Ranked on any ladders?
No. Blizzard cannot be responsible for the locally stored characters or the servers on which the games are played. Open Games are more vulnerable than Realm Games to certain forms of manipulation and abuses by other players; therefore, they will not be ranked on a ladder.

Is there any way to check the ladder rankings on a web page?
No, but this is a feature we would like to add.

What happens when I delete my character?
If it is currently ranked, it will be removed from the ladder.

Thanks, tRaDiNgYo