Reported by Baumgardner, among others. This is obviously a setback with regard to LeVert's summer workout plans, but he should be recovered in time for the trip to Italy:
“Caris underwent surgery today for a stress fracture of his foot at the University of Michigan hospital," Beilein said in a statement. "He is doing well and we expect him to make a full recovery in about 8 to 10 weeks. We are confident he will participate in our late summer training and play in our August trip to Europe.”
According to a Freep article, it's not known whether he'll be able participate in the Kevin Durant camp for wings (to which he had received an invite), which is usually held in July.