Wallace said The Rock team had been in the spotlight recently and it had been a difficult time for them.
"The Rock team is highly valued at MediaWorks - they're all extremely passionate about the brand and their listeners. The brand has also developed a lot over the years, with the station becoming strong advocates for mental health and we should be proud of the work they continue to do with the Day on the Darts and other campaigns."
Meanwhile, a separate independent workplace review being carried out by Maria Dew QC is still under way and Wallace said participants who may have missed Sunday's deadline to signal their participation were still able to do so.
The QC review will stretch back three years to March 2018 and will probe allegations of sexual or racial harassment, discrimination, bullying and misuse of drugs and alcohol.
Wallace's statement sparked a furious reaction from followers of a whistle-blowing social media page about issues in the radio and music industry.
One person called it "utterly revolting".
"How incredibly disappointing. Crushing," the person said.
Others were aghast at the praise that Wallace gave The Rock for its work on mental health.
"I didn't realise that doing something good for (men's) mental health gave you a free ride for decades of very public harmful behaviour towards women," the person said.
"What about the mental health of these women?," another asked
Others were concerned that past staff members would cop blame and be made "scapegoats".
A MediaWorks spokesperson confirmed the investigations were complete but would not respond to questions about the appropriateness of Wallace's mental health advocacy comments, the outcomes relating to any of its other stations or whether any staffer at The Rock had left as a result of the investigation.
The Rock came under fire last month after four different incidents were shared on social media about the same employee.
One woman claimed the man "has been around forever creeping people out".
Another woman said she'd had "a few run ins" with the man, and she would not feel comfortable being alone with him.
The first allegations prompted others to share their experiences about other men at the network.
Following the company launching an investigation into allegations of sexual harassment, the host at one of its major shows resigned.
Two male staff members were stood down while the investigation was carried out.