Tom Cruise settles $50 million lawsuit

Tom Cruise dropped his $50 million lawsuit against Bauer Media. The two parties settled out of court.

The actor had sued the publisher of In Touch Weekly and Life & Style for defamation of character. The suit was filed Oct. 24, 2012 after stories were published claiming the actor had "abandoned" his daughter Suri Cruise. According to the Hollywood Reporter, the stories came following his divorce from Katie Holmes, the mother of Suri.

The terms of the settlement weren’t included in the dismissal that was filed today in a U.S. District Court in Los Angeles. The document notes that both parties want the case dismissed with prejudice. According to E News this means Cruise can't refile.

"Tom Cruise's lawsuit against Bauer Publishing, In Touch and Life & Style magazines has been settled," read a statement released by Cruise’s attorney. "The terms of the settlement were not disclosed and remain confidential. Bauer Publishing, as well as In Touch and Life & Style magazines, never intended to communicate that Tom Cruise had cut off all ties and abandoned his daughter, Suri, and regret if anyone drew that inference from anything they published."

The attorney, Bert Fields, repeatedly slammed the tabloids' stories stating the star had "never abandoned [his daughter]."

The case was supposed to go to trial on June 10, 2014.

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