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Update

11:06 AM PT -- Sources familiar with the situation tell TMZ ... the decision was made last night for Jimmy to bow out of event.

Jimmy Fallon pulled the plug on his appearance at Fast Company’s Innovation Festival in New York City on Thursday following the news that ABC suspended "Jimmy Kimmel Live!" Wednesday night.

He was scheduled to join the “Staying On Brand” panel , but is "no longer able to attend," according to a memo sent to Adweek . The panel reportedly went forward with marketing executive Bozoma Saint John and Fast Company Senior Staff Editor Jeff Beer as scheduled.

TMZ has reached out to Fast Company and Fallon's team for comment ... so far, no word back. Play video content

As you know, ABC placed Kimmel's late-night show on an indefinite hi

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