Katie Holmes, Tom Cruise reach settlement in divorce

Tom Cruise and Katie Holmes have reached a settlement in their divorce less than two week after their split was announced.

Holmes filed for divorce from her husband of five years on June 28th and was reportedly seeking sole custody of their daughter, Suri.

Holmes attorney Jonathan Wolfe said Monday that the case has been settled and an agreement was signed.

Reps for the two stars released a joint statement, "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."

See photos of the couple through the years

Details of the settlement are unknown as of Monday morning, but People said the couple is working on an arrangement to have Suri to live with Holmes in New York while Cruise will have visitation rights. 

An assistant in Wolfe’s office who would not give her name would not elaborate on the agreement or say if the couple was now divorced.