Is your League Point loss amount reduced if you have a leaver or disconnect on your team?

As title suggests, when you lose a ranked game because someone either disconnects or quits during the game, will you receive a reduced LP hit from the loss?

I thought I read this somewhere on the forums by a red but I can't find it. Can anyone confirm this to be true?

No, it still hasn't got any effect on the amount of ELO or LP you lose. That is, like Domenik VanBuskirk already pointed out, because of the fact teams (or duo's) can decide for one person to leave so all the others get a reduced loss of LP. Think of a smurf account to duo or team with, who doesn't care about the leave points or LP amount. That smurf account can leave the game for his friends.

So again, I'm afraid not.

Such a system has been suggested in the past. To quote a short post from Lyte in its entirety:

We're open to suggestions on how to handle games that have a leaver, resulting in a 4v5.

However, just reducing the Elo loss (or weighting most of the Elo loss on the leaver) is actually not an ideal solution; in fact, it creates situations where players often blame, scream, or harass the player performing the worst on the team to try to make them leave so they can reduce their losses.

Besides giving players an incentive to become "toxic", there could also be intentional abuse by people who already know each other as in Joetjah's answer.