Australian rockers 5 Seconds of Summer have reportedly parted ways with their U.S. record label and their long-term management bosses.

Luke Hemmings, Ashton Irwin, Michael Clifford and Calum Hood have separated from Modest Management bosses after almost a decade, and they've left Interscope Records - their label since 2019 - according to Variety.

The big split from their U.S. label and management isn't the end for the bandmates - they are working on a fifth studio album.

"We are making a new album," Clifford said during a Twitter live stream, with bandmate Hemmings adding, "It sounds like... a step in the right direction."

The move comes nine months after the bandmates upset their management by addressing sexual assault allegations against Clifford via tweets.

"We are posting this against the advice of our team," the band shared. "We, as a band, didn't feel it was the right time for a tour announcement. We felt it was much more important to address false accusations first, but we were told not to comment. We are done being silent."

The statement followed false allegations Clifford touched a fan inappropriately at a concert in Illinois in 2013.

The woman, now 24, later insisted that the star was innocent and she had confused him with another man at the concert, who had since died.