There is a lot more to the story, but I suppose this isn't the place to discuss that. It does sound like he will be allowed to play going forward.
I don't see the issue with Schefter here, he just spits out whatever his sources say as fast as possible on Twitter. Looking over his tweets, he basically posted Cook's agent's statement, then the Vikings' statement, then Cook's attorney's statement, and then shared an ESPN article that covered both parties' claims in the pending lawsuit. I don't see what the propaganda is.