Well, this is certainly some old news (their website was up since January this year), but it was a well-kept news I guess. 2 of the 3 founders of new studio, BitFlip Games, are alumni of the now defunct Flagship Studios. They are Guy Somberg and David Steinwedel, who have worked on titles like Hellgate:London and also the upcoming Mythos Online. The founding members stated that the success of Runic Games’ Torchlight inspired them to finally start their own development studio. Not much information is available at the moment, except that they are working on 2 titles.
For more information, you may proceed to their website: http://bitflipgames.com/
