On Friday (09Mar12) news emerged that Kimberly Buffington-Quaid had filed legal documents to end the couple's eight-year marriage and was seeking spousal support, a share of the actor's assets, and the cost of her lawyer's fees.
And now the Vantage Point star has spoken out, asking the press to respect the pair's privacy.
A statement issued by the actor's representative reads, "We can confirm that Kimberley Quaid has filed for divorce. Contrary to what has been reported, a satisfactory settlement is being worked out for both parties. We will not be providing any further information on this private matter."
A temporary order has been put in place giving the two joint custody of its four-year-old twins.
Quaid and Kimberly wed in 2004.
This marks the end of the 57 year old star's third marriage - he was previously wed to Meg Ryan and actress P.J. Soles.