"The case has been settled and the agreement has been signed. We are thrilled for Katie and her family and are excited to watch as she embarks on the next chapter of her life... We thank Tom's counsel for their professionalism and diligence that helped bring about this speedy resolution."
While no immediate details about the settlement were given, sources say Katie and Tom have agreed that Suri will live in New York City with her mother, but her father is given generous visitation rights.
Just two short weeks after Katie Holmes reportedly blind-sided Tom Cruise by filing for divorce after five and a half years of marriage, the couple has reached a divorce settlement.
Cruise, 50, and Holmes, 33, issued a joint statement saying they were focused on the well-being of their daughter Suri, 6: "We are committed to working together as parents to accomplish what is in our daughter Suri's best interests. We want to keep matters affecting our family private and express our respect for each other's commitment to each of our respective beliefs and support each other's roles as parents," the statement reads.
Holmes' attorney, Jonathan Wolfe, also issued a statement to People magazine confirming that the former couple has reached a speedy divorce settlement.
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