Tom Cruise, Katie Holmes Settle Divorce

Celebrity News Jul. 9, 2012 AT 12:40PM
Tom Cruise and Katie Holmes attends the 2011 Wiesental Center National Tribute Dinner In Honor Of Tom Cruise at the Beverly Wilshire Four Seasons Hotel on May 5, 2011 in Beverly Hills, California. Tom Cruise and Katie Holmes attends the 2011 Wiesental Center National Tribute Dinner In Honor Of Tom Cruise at the Beverly Wilshire Four Seasons Hotel on May 5, 2011 in Beverly Hills, California. Credit: Steve Granitz/WireImage.com

Well, that was fast.

Tom Cruise and Katie Holmes have settled their divorce and custody dispute, Holmes' attorney Jonathan Wolfe told Us Weekly in a statement Monday.

"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," Wolfe's statement reads.

PHOTOS: Tom and Katie, the way they were

Parents to daughter Suri, 6, Cruise, 50, wed Holmes, 33, in November 2006. The actress unexpectedly filed for divorce June 28, asking for sole legal custody of Suri. No other details on the settlement were immediately available.

PHOTOS: How Katie grew up

Continued Wolfe: "This result could not have been achieved without the hard work of my partner Gary Skoloff and our co-counsel Allan Mayefsky, Michael Mosberg and Larry Trachtenberg of Aronson Mayefsky and Sloan and Peter Walzer and Chris Melcher of Walzer & Melcher in California. We thank Tom’s counsel for their professionalism and diligence that helped bring about this speedy resolution."

VIDEO: Katie's first days as a single woman

UPDATE: Cruise's attorneys, Allen Mayefsky and Michael Mosberg, also confirmed the settlement in a statement:"We are very pleased to confirm that the divorce action between Tom Cruise and Katie Holmes has been amicably settled. The terms of the settlement are confidential. The parties have issued a joint statement regarding this resolution. We will have no further comment."

Shortly before Monday's announcement, reps for both actors released a joint statement underscoring their commitment to resolving the matter:

"We are committed to working together as parents to accomplishing 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."

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