UPDATE: Cain puts White House bid on hold

Presidential hopeful Herman Cain has suspended his bid for the White House, a number of media outlets are reporting.

In recent weeks, Cain, a Stockbridge resident and one-time GOP contender, has faced a spate of allegations from women, ranging from sexual harassment to a long-time affair with a Dunwoody Woman.

“As of today, with a lot of prayer and soul searching, I am suspending my presidential campaign,” Yahoo! News quoted Cain as saying in an announcement made Saturday in Atlanta. “I am disappointed that it came to this point that we had to make this decision.”

Cain, a former businessman and talk radio show host on WSB-AM in Atlanta, announced his presidential bid in May before a crowd of 10,000 at Centennial Olympic Park in downtown Atlanta.

Cain has never held public office and lost a 2004 bid to serve in the U.S. Senate from Georgia, a seat Johnny Isakson ultimately won.

According to CBS News, Cain said he would continue to be “a voice for the people.”

“I am not going to be silenced and I am not going away,” CBS News quoted Cain as saying.

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