According to Christian Caple, Moore has been dismissed from the team due to a violation of team rules.
Reggie Moore has been dismissed from the WSU basketball team for a violation of team rules.— Christian Caple (@ChristianCaple) September 24, 2012
When we know more specifics, we'll pass them along to you. For now, all we know is that Moore, who was headed into his senior year for Ken Bone's Cougars, is no longer on the team. Here is WSU's official release, including this quote from Bone himself:
"Reggie has been an important part of the basketball program for the last three years and I wish him the very best in the future,"
If this were the WWE, Bone would basically say, "We thank Reggie for his time with the company, but at this time, both parties feel it's best to go their separate ways. We wish Reggie the best in his future endeavors."
EDIT: Reggie speaks out via twitter
Rock bottom— Allen Iverson(@RMoore206) September 24, 2012