LaBeouf opened up about the night of debauchery in a 2008 interview with GQ magazine, revealing he had enjoyed a night out with Tatum and their movie co-star Peter Tambakis back in 2006, just before filming on A Guide to Recognizing Your Saints began.
He recalled, "We were walking around the Upper East Side in this rebel mindset, trying to be like street kids...
"Channing was supposed to be the head honcho in the movie, so he goes, 'All right, you see that bookstore? Somebody throw a rock. Let's break in and steal a Spider-Man bookmark'. And Peter and me look at each other like, 'Dude, what? Are you f**king kidding me?'"
According to LaBeouf, Tatum took the lead and broke a window before grabbing the bookmarks and running off, prompting his stunned co-stars to chase after him.
At the time, Tatum's publicist poured doubt on LaBeouf's story, claiming it was "inaccurate", but now the Magic Mike hunk is coming clean.
Speaking to Gq, he admits, "I definitely kicked in a window that night. But it wasn't Barnes and Nobles (bookstore). Just a window... I was running."
Tatum, 34, blames the bad behaviour on "being stupid", revealing LaBeouf even "punched the window of a cop car" during the night out.
He continues, "It was pandemonium. It was just one of those nights that the volume just keeps getting turned up, turned up, turned up. And we all split up. We all just ran in opposite directions. I didn't hide under a car, I dove in some trash bags: 'I'm sitting here for a little while'."
But he adds, "In hindsight it's the funniest thing in the world - just typical actors trying too hard. It's only fun because we didn't get caught... that I can have perspective on it now and know it was stupid. I don't think we were thinking."
Tatum has since left his bad boy behaviour behind him and is now a married father, while LaBeouf has continued to hit headlines for his bizarre antics, which included wearing a brown paper bag over his head with the words 'I am not famous anymore' scrawled across it at the Berlin International Film Festival in Germany earlier this year (14). The actor has also been involved in two bar brawls in recent years and almost wrecked filming on a Transformers sequel after smashing up his hand in a car accident.