Is that part false?

I probably cannot answer that with certainty. I'm going off what has been publicly said and what some parents have told me.

Glad to hear more about the speech's content.

Here is an excerpt of the part in question:

Now let me tell you a big secret, my second biggest one in fact. I once asked a girl on a date, and you guessed it: I’m not really supposed to tell you. Earlier in the year, I had many classes with her over the course of the year, and I gradually began to notice how adorable she was. About a month ago, I typed into her calculator, "Will you please be my 1st girlfriend? Signed, Evan." And she said no. Thoroughly embarrassed, I wrote her a letter. And I will now read you this letter. Oh, God. OK.

My Dear Friend,

I am sorry I asked you to be my girlfriend. I did not intend to startle or demean you in any way. It’s just that I’ve always seen you as more than a friend on account of the hours of classes we’ve had together, and the amount of time we’ve known each other. I just wanted to get to know you even better, and be around you more, in these last few months we get to spend together before we part ways for the remainder of our lives. I think you are smart, friendly, and adorable, and you are the only girl I’ve ever had a crush on. I want you to be my girlfriend because I genuinely adore you, but I perfectly understand if you do not feel the same way about me. We will always be friends. On a more serious note, there is something I would like to reveal to you. You may have already suspected this, but I hope this does not change your opinion of me: I am gay. I’ve been attracted to men for as long as I can remember, and I’ve never had a girlfriend because I prefer members of my own sex. But I thought that, if ever in my life I am to refer to someone as my girlfriend, it may as well be the best friend I ever had.

Nobody at the school particularly cares that Evan is gay. IMHO, it is valid to question whether a valedictorian speech is the right place to come out. IMHO, the way he wanted to come out, by making a fellow student his reason for coming out, was inappropriate and unfair to her. Of course, this is not the dialogue being played out nationally.