Trump Foundation agrees to dissolve under judicial supervision after lawsuit from New York Attorney General

New York Attorney General Barbara Underwood revealed on Tuesday that her office had secured an agreement for the Trump Foundation to dissolve.

Amy Spitalnick, a spokesperson for Underwood, broke the news in a tweet Tuesday morning.

"NY AG Barbara Underwood secures a stipulation dissolving the Trump Foundation under judicial supervision, w/ AG review to ensure charitable $ goes to reputable orgs," the tweet said. "This is a key piece of the relief sought in her June suit."

In a lawsuit filed earlier this year, Underwood's office sought to dissolve the Trump Foundation. It also asked for more than $2.8 million in damages and penalties.

The lawsuit alleges that under guidance from the Trump family the Foundation was involved in "a pattern of persistent illegal conduct, occurring over more than a decade, that includes extensive unlawful political coordination with the Trump presidential campaign, repeated and willful self-dealing transactions to benefit Mr. Trump’s personal and business interests, and violations of basic legal obligations for non-profit foundations."