Police issued an update after two schools were forced into lockdown.
Officers received reports of three young males in Wells Hall Road next to Thomas Gainsborough School (TGS) in Great Cornard, Sudbury, at about 2.45pm on Friday.
Both TGS and Wells Hall Primary School were put into lockdown as a precaution while officers attended the area.
A spokesman for Suffolk police has confirmed the investigation is ongoing and no arrests have been made.
The spokesman said that three unknown men were reported as being near the school site and one made a threat that they had a knife.
Speaking last week, Helen Yapp, headteacher at TGS, said: "Students stayed with their class teachers, and in line with our usual policies, students were instructed not to use their phones.
"When we heard from the police that we could allow students to leave we did so.
"At no time was there any unauthorised person on the school site, and our school community was not at any risk."
At about 3.40pm TGS said the police had made the school aware that the area was safe and students could leave the building.
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