The 38-year old singer posted a written statement on Instagram, that read, "I stay away from gossip as much as I can," the note begins. "But for my family, I feel it is important to address recent rumours that are hurting the people I love. A few weeks ago I displayed a strong lapse in judgment -- but let me be clear -- nothing happened between me and my costar."
"I drank way too much that night and I regret my behaviour. I should have known better. This is not the example I want to set for my son. I apologize to my amazing wife and family for putting them through such an embarrassing situation, and I am focused on being the best husband and father I can be. This was not that."
The rumours started to make the rounds on the internet as Timberlake, who shares four-year-old son Silas with the wife of seven years Jessica Biel, was photographed holding hands with Wainwright on the balcony at The Absinthe House on Bourbon Street in New Orleans on November 21
The 30-year-old actor plays Timberlake's romantic interest in the upcoming American- drama film 'Palmer' that's currently filming in the Louisiana city.
Here's a picture of Timberlake with his wife Jessica!
Stay tuned for more updates!