We contacted the publisher to check up on this rumor.
Rumors on the Internet today suggest that Acclaim's new CEO has decided to completely drop support for Nintendo systems. The rumors say that upcoming games like XGRA and Legends of Wrestling III will be finished for GameCube, but no new projects will be started for the system.
We contacted Acclaim about the rumor. They say that quotes in the rumor have been taken out of context, and that the publisher is not actually dropping GameCube or GBA support. Rather, in contrast to their former policy of releasing every title on every system, Acclaim will now evaluate each title and decide which system(s) it best fits. This new publishing strategy goes for GameCube, GBA, PS2, and Xbox. Acclaim is NOT dropping support for Nintendo systems, although it's entirely possible that GameCube will see fewer of the company's games than it previously has.
Acclaim also confirmed that all of the currently announced GameCube titles will be completed and released (barring any specific, unrelated cancellations).