His blood alcohol reading at the time is said to have been .144, almost three times the legal limit.
Collingwood have stopped short of suspending Shaw but have decided, instead, to fine him $10,000.
"There is no excuse and we're sick and tired of this behaviour," an angry Eddie Mcguire, president of the Magpies said.
"He's not a five-year-old, he is a grown man and must take responsibility. Mick breaks his neck week in and out and is dragged down by clowns. Enough is enough."
As part of his punishment, Shaw is made to front the media to explain his action where he claims that an unnamed friend was in the passenger seat of his car.
Reports, however, later reveal that friend to be Alan Didak despite both players vehemently denying that was the case before the revelation.
Based on the new reports, Collingwood are forced to review their penalty imposed on Shaw.
"The sanction imposed on Heath by the club on Monday was a result of information stated by both Heath and Alan after being repeatedly questioned about the incident," the Magpies said in a statement.
"Given the club has now found their information to be false, it strikes at the principles of honesty and integrity that the Collingwood Football Club is built on.
"For this reason, the sanction imposed will be immediately reviewed by the club, and media will be notified of a press conference to be held on Tuesday."