Way back in 1735, John Peter Zenger was put on trial by the British Governor for printing accusations of corruption in his newspaper against that Governor. They charged him with sedition. His defense was that the accusations were true, and he proceeded to prove them in court. Once he did, he was acquitted, and that case became a part of the basis of our first amendment freedoms and limitations.
Let's be clear, a person can sue for anything they want to, but can they win? I would have to agree with the above post that if the allegations are and can be proven true in court, then no libel/slander exists.
Because of the internet, blogs and message boards, people do need to be more careful what rumors they post about anyone unless they are prepared to defend themselves in court.