Retraction (noun)

1. The act of retracting or taking back something that has been said or written.
2. A statement or action that takes back or denies something that has been previously stated or written.

Origin:

From the verb retract + -ion.

Examples:

1. The newspaper issued a retraction after it was discovered that the story was based on false information.
2. The politician made a retraction and apologized for the offensive remarks he had made.
3. The scientist had to retract his findings after it was discovered that the research had been conducted improperly.
4. The company issued a retraction after it was found that the product had not been tested properly.
5. The retraction of the statement caused confusion among the public.