Hedley appears to be the first Canadian band to be brought down by the me-too movement.
Lead singer Jacob Hoggard has announced that he is stepping away from his career indefinitely.
He has also apologized to "people that have always had faith in me, and the institutions and organizations that believed in me".
"I will honour my commitments to this tour, then will be taking a serious step back in order to make real changes in my life, seek guidance from my family and continue to grow and learn from the amazing women in my life," Hoggard said in a statement. "I'm asking for a chance to prove that I can be the man you thought I was, the man I was raised to be."
This week on CBC News, an unnamed woman accused Hoggard of raping her in a Toronto hotel room.
There have also been a multitude of anonymous allegations about the band over social media.
Hoggard, however, declared in his statement that he has "never engaged in non-consensual sexual behaviour in my life. Ever."
"However," the singer acknowledged, "over the last 13 years, I have behaved in a way that objectified women. The way I've treated women was reckless and dismissive of their feelings."
In a separate tweet, Hedley also announced that it's taking an "indefinite hiatus to work on our personal relationships and who we are as individuals".
"No excuses are going to be made by any of us," the band stated. "We clearly have some soul-searching to do. That begins with us saying that we are truly sorry, as individuals and as a band, to anyone who has been negatively affected by our behaviour."
Hedley has already withdrawn its name from consideration for this year's Juno Awards after receiving nominations for Group of the Year, Fan Choice of the Year, and Pop Album of the Year for Cageless.
This came after its Vancouver-based management company, Feldman Agency, severed ties with the band and major networks such as Corus, CBC, and Bell stopped playing Hedley's music.
Two weeks ago, the Canadian Academy of Recording Arts and Sciences and Hedley jointly announced that the band was backing out from performing at the Juno Awards, which will be held in Vancouver on March 25.
Hedley also cancelled its final show in Windsor on its current Cageless Tour. The growing scandal has persuaded back-up bands to pull out of concerts in some Canadian cities.More