According to The Sun, the blonde beauty, 23, is heard singing a host of harsh lyrics in the new track, entitled Shout Out To My Ex - perhaps hinting at her former fiancé and their poor sex life.
The four girls draw on their past relationship experiences as they belt out the new punchy tune - with Perrie singing some potentially revealing lyrics on the track, according to the report.
One brutal line is speculated to be criticizing the former One Direction member's skills in the bedroom, and showing sympathy for his new model flame Gigi.
The South Shields star allegedly taunts: 'I hope she gettin' better sex, Hope she ain't fakin' it like I did, babe.'
Tuesday's American Music Awards announcement saw Drake earn a record-breaking 13 nominations thanks to his latest album, Views, shattering Michael's Jackson's mark of 11 nominations in a single year from 1984 when the King of Pop had Thriller.
He will go up against Adele, Beyonce, Bieber, Selena Gomez, Adriana Grande, Rihanna, Twenty One Pilots, Carrie Underwood and The Weeknd for Artist Of The Year.
The 10 nominees will be cut in half by November 14 based on fan votes. Voting on artist of the year will close November 17.
Rihanna got seven nominations and Adele and Bieber tied with five each.
Beyonce and The Chainsmokers each received four nominations. Bryson Tiller, Twenty One Pilots, Carrie Underwood, Fetty Wap and The Weeknd earned three nominations each.
There is no overall song of the year category this year; instead honors will be handed out for best song in the categories of pop/rock, country, rap/hip-hop and soul/R&B.
Nominations are based on a metric that includes sales, airplay and social activity tracked by Billboard magazine and its partners. Winners are determined by fan votes on the show's website or through Facebook and Twitter.
Last year, One Direction won artist of the year honors, Taylor Swift's "Blank Space" was crowned song of the year and Sam Hunt was named best new artist.
The awards show will air live Nov. 20 from the Microsoft Theater in Los Angeles on ABC.
By Jason Chester