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On November 20, 2009, the four band members announced they will be taking an indefinite hiatus, saying they were unsure of the future of the band.

Wentz has said that his personal reason for taking a break is that he feels that his name and marriage to pop singer Ashlee Simpson had become a hindrance for the band.

Wentz opened a nightclub in New York with his bandmates as well as members of Gym Class Heroes, The Academy Is..., and Cobra Starship; the bands' managers are also involved in the enterprise.

In 2002, Fall Out Boy released an EP called Fall Out Boy/Project Rocket Split EP.Their third album, From Under the Cork Tree, was released in 2005.Wentz wrote the lyrics to the lead single, "Sugar, We're Goin Down" with his dad in Chicago; the song peaked at #8 on the Billboard Hot 100 and spent months in the top 50 of the Hot 100, marking five weeks in the top 10 and fourteen weeks in the top 20.Soon after, in 2003, the band released their mini-LP Fall Out Boy's Evening Out with Your Girlfriend on Uprising Records.This album would later be digitally remastered and reissued after the band's third, successful full-album release From Under the Cork Tree, on the major label Island Records.

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