After a review into the allegations that three Sigma Phi Epsilon Fraternity members from the University of Mississippi tied a noose around the neck of a campus statue of James Meredith, an iconic civil rights activist, the fraternity decided Thursday to shut down the Ole Miss chapter.

The fraternity said in an issued statement that its decision to close the chapter was based on a number of incidents and behavioral issues with its members that went beyond statue defamation that occurred in February, CNN reported.

"The decision is not a result of any individual incident, but a response to a newly discovered, ongoing behavior that includes incidents of hazing, underage drinking, alcohol abuse, and failure to comply with the university and fraternity's codes of conduct," according to the statement. "Though the incident involving the James Meredith statue several months ago did not directly result in the chapter's closure, it did mark the beginning of an intensified period of review.

Meredith is known in Oxford, Miss. and Ole Miss as being the school's first black student, according to CNN.

The fraternity also said it would expel the three members, who are also suspected of placing a flag that bore the Confederacy symbol on the bronze statue along with the noose.

Sigma Phi Epsilon Chief Executive Brian Warren said in a statement that the fraternity didn't have any other choice but shut down the chapter. Although he also said it would reopen in the future.

"Though it's always painful to close a chapter, these students' actions clearly illustrate a determination to perpetuate an experience based on risky and unconstructive behavior." Warren said. "In these cases we have no choice but to close the chapter and return to campus at a later date."

He said that the actions of the chapter's members do not reflect the fraternity's goals or purpose.

"Sigma Phi Epsilon is committed to being a different kind of fraternity -- one that recognizes the importance of the out-of classroom experience and is committed to making that experience the safest and most empowering part of a college man's life," Warren said.