Justin Timberlake has finally broken his silence on the rumors that he and his Palmer co-star Alisha Wainwright are dating. He admitted to what he called "lapse in judgment" and apologized to his wife, Jessica Biel, and their family for his action.

In his Instagram post, Timberlake addressed the rumors after he and Wainwright were spotted holding each other's hands while sharing a drink at a bar in New Orleans. The "Sexy Back" hitmaker said he felt the need to address the rumor because it began to affect the people he loves.

Justin stressed that it was entirely a lapse of judgment on his part and nothing happened between him and the actress. Timberlake admitted that he was way too drunk at the time and that he deeply regrets his behavior. He apologized to Biel and their family for putting them in an embarrassing situation.

"I should have known better. This is not the example I want to set for my son," he said in his statement.

Justin's remark came after E! News cited a source as saying that the singer and Biel are 100 percent moving on from this controversy. The insider added Timberlake feels guilty and will do everything to make it up to his wife.

The NSYNC singer and Wainwright sparked rumors last month after they appeared to get cozy at the balcony of Absinthe House on Bourbon Street in New Orleans last month. At one point, Alisha's hand was seen on top of Justin's knee.

The "Cry Me a River" singer was also spotted holding the hand of his co-star. Netizens also noticed that Timberlake did not appear to be wearing his wedding band in the viral video.

A source close to the production told Us Weekly that the two were part of a larger group of cast and crew who went out to drink. The insider added that Timberlake and Wainwright are just friends and nothing is happening between them.

Alisha's father, Jeff Wainwright, also gave his opinion about the matter. Mr. Wainwright defended his daughter and said the outrage over the incident is just a "hoopla!"

He added that Alisha as a "free-spirited" woman and he doesn't see anything wrong with her daughter and Justin's interaction. Mr. Wainwright said he knows Alisha is a very good daughter and Biel has nothing to worry about. When asked if he knows who Alisha is dating at the moment, Jeff admitted that he has no idea.