During a reader Q&A on Rockstar's official site, a reader asked, "Hey R* is there gonna be something more about L.A. Noire?”
Rockstar responded: "While there won’t be any more DLC or additional content for the current release of L.A. Noire (we’re all too busy working on Max Payne 3, GTAV and other games to come), don’t count out the possibility of a new game in the L.A. Noire franchise in the future. We simply have not decided anything. We’re all very pleased with how that game turned out and are considering what the future may hold for L.A. Noire as a series. We don’t always rush to make sequels, but that does not mean we won’t get to them eventually – see Max and Red Dead for evidence of that – we have so many games we want to make and the issue is always one of bandwidth and timing."
Last May, Team Bondi had promised that L.A. Noire 2 wouldn't be five years in the making. Of course, the studio was shuttered in September not long after the developer was accused of abusing its employees. Rockstar all but disowned the developer for "badly damaging" the publisher's reputation.
It will be difficult for the publisher to disassociate the game from Team Bondi, so a sequel is at best iffy.