CNN — 

Astronomer, the tech company that found itself launched into the public eye after its CEO was spotted on a Jumbotron video at a Coldplay concert earlier this week embracing an employee, issued a statement about the matter via LinkedIn.

“Our leaders are expected to set the standard in both conduct and accountability,” the statement said in part, adding that the company’s board of directors “has initiated a formal investigation into this matter and we will have additional details to share very shortly.”

The statement also addressed incorrect information circulating on the internet in the day following the video’s release, including a misidentification of a third person seen in the clip, and a parody X account that falsely claimed to have a statement from the CEO.

Andy Byron, the chief executive officer of New York-based Astronomer, was spotted on a Jumbotron screen at a Coldplay concert at Gillette Stadium in Massachusetts on Wednesday, embracing Kristin Cabot, the company’s chief people officer, who oversees the organization’s human resources.

See awkward moment at Coldplay concert on ‘kiss cam’

00:18 – Source: CNN

Coldplay was performing “The Jumbotron Song” when the camera turned to a man and woman cuddling as they watched the stage. The two quickly separated and attempted to hide their faces, with the man ducking down, when they noticed they were on a giant screen at the venue.

“Whoa, look at these two,” Coldplay frontman Chris Martin quipped. “Either they’re having an affair or they’re just very shy.”

CNN has reached out to a representative for Coldplay for comment.

The video quickly went viral and internet sleuths were the first to identify Byron and Cabot. Social media has been so invested that there are now a slew of memes and comedic videos poking fun at the incident.