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Trump resigned from 400 business entities before taking presidential oath

Eric Trump has replaced his father, President Donald Trump, as the head of Trump International Hotels Management LLC, Florida public records show. CNN confirms with documents provided by the Trump Organization that Trump resigned from more than 400 entities on Jan. 19, one day before he was sworn into office.

Trump will still receive reports that detail the profits of the Trump Organization, but he will not speak to his adult sons — Eric and Don Jr., who will lead the company — about the business. "Company records will be updated with the various states in the ordinary course as and when required by law," Trump Organization General Counsel Alan Garten said in a statement.

Prior to the announcement, a group of constitutional scholars and ethics lawyers had planned to file a lawsuit Monday accusing President Trump of violating the U.S. Constitution by letting his hotels and other businesses take payments from foreign governments.