Among accusations of affairs from multiple women, businessman Herman Cain announced Saturday that he is suspending his bid for the presidency. 

Cain told the crowd at what was supposed to be the opening of his Atlanta headquarters that none of the accusations were true. He said that he is "at peace" with his family, his wife and himself, but the allegations have taken a toll.

"I am suspending my presidential campaign because of the continued distraction, the continued hurt caused on me and my family, not beacause we are not fighters, not because I am not a fighter," Cain said.  

Cain's exit from the race leaves former House Speaker Newt Gingrich and former governor Mitt Romney as the leaders in the race for the Republican presidential nomination.