The rumours are true...40 Below Summer have split.
Here is a paragraph taken from their site with all the details :

"40 Below Summer have decided to call it a day
and will play a final show at the Starland Ballroom in Sayreville, NJ
on September 17th
with all of the bands original members.
It will be filmed for a DVD that the band will sell
through their official website at a later date.
Despite the end of 40 Below Summer, the remaining members of the band
frontman Max Illidge, guitarist Joe D'Amico and bassist Hector Graziani
will continue on together under the moniker of Black Market Hero.
Also in the line-up are Ryan Jurhs of Flaw fame on guitars
and drummer Ali Nassar.
The band will open the aforementioned 40 Below Summer show."

Goodbye 40 Below...you will be missed.