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Michael regrets revealing that Stanley is having an affair, so he spreads a bunch of lies about everyone else to cover his tracks--except that one of the lies that he spread actually turns out to be true.
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Hoy do you untell something? You can't. You can't put words back in your mouth. What you can do is spread false gossip so that people think that everything that's been said is untrue, including Stanley's having an affair. It's like the end of Spartacus; I've seen that movie half a dozen times, and I still don't know who the real Spartacus is. And that is what makes that movie a classic "whodunit".
References Casino Royale