Tom Cruise & Katie Holmes Reach Divorce Settlement

"The case has been settled and the agreement has been signed," lawyer says

|  Tuesday, Jul 10, 2012  |  Updated 7:55 AM EDT
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Tom Cruise and Katie Holmes have appealed for privacy.

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Tom Cruise and Katie Holmes have reached a divorce settlement.

"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," Holmes' lawyer Jonathan Wolfe told People and E! News in a statement.

Wolfe went on to thank "Tom’s counsel for their professionalism and diligence that helped bring about this speedy resolution." Details of the agreement were unclear.

Bert Fields, Cruise's longtime attorney said in a statement that "Tom is really pleased we got there, and so am I."

Earlier Monday, Holmes, 33, and Cruise, 50, said in a joint statement that they were “committed to working together” on decisions involving their 6-year-old daughter, Suri.

"We are committed to working together as parents to accomplishing what is in our daughter Suri's best interests," reps for the ex-couple said in a statement to news outlets.

Holmes and Cruise also appealed for privacy as the pair navigates a high-profile split that has dominated tabloids, gossip sites and entertainment news shows.

“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," they said.

Holmes' lawyer announced on June 29 the actress had filed for divorce after nearly six years of marriage to Hollywood's highest-paid actor. The actress reportedly filed for sole legal custody of Suri.

After news of the breakup broke, Cruise returned to Los Angeles from Iceland where he had been shooting a film. Holmes has been spotted out and about in New York.

In a newly published, but pre-divorce interview, Holmes seemed to hint at changes afoot in her life. 

"I definitely feel much more comfortable in my own skin. I feel sexier," the former "Dawson's Creek" star told Elle Magazine. "I'm starting to come into my own ... It's like a new phase."

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