The player acknowledged his role in the reported incident, the specifics of which have not yet been made public, according to the Scottish Premiership team.
Rooney has been suspended in the interim “precautionary basis” while a thorough inquiry is underway.
“St Mirren Football Club has suspended Shaun Rooney today, on a precautionary basis, after he disclosed to the club his involvement in an alleged incident in Glasgow city center last week,” the Paisley club said in a statement on Thursday.
“The club will now launch a thorough inquiry into this occurrence, and no more statements will be made while it is being conducted.
Rooney played for a variety of teams, including Dunfermline Athletic, Inverness Caledonian Thistle, and St Johnstone, after starting his career in the Dundee United development system.
After spending two years as manager of Fleetwood Town in Lancashire, England—where former Celtic captain Scott Brown briefly served as manager—the 28-year-old returned to Scottish football this summer.