Singer also said he will not be participating in promotional events for his upcoming movie X-Men: Days of Future Past.
"The allegations against me are outrageous, vicious and completely false," Singer said in a statement obtained by TVGuide.com. "I do not want these fictitious claims to divert ANY attention from X-Men: Days of Future Past. This fantastic film is a labor of love and one of the greatest experiences of my career. So, out of respect to all of the extraordinary contributions from the incredibly talented actors and crew involved, I've decided not to participate in the upcoming media events for the film."
Singer was named in a lawsuit filed last week by Michael Egan, who claims he was forced to have sex between the ages of 15 and 17 with Singer and other Hollywood executives at parties.
Added Singer: "I promise when this situation is over, the facts will show this to be the sick twisted shake down it is. I want to thank fans, friends and family for all their amazing and overwhelming support."