USA Gymnastics Files For Bankruptcy

CHICAGO (CBS)--As it struggles to recover from a sexual abuse scandal, USA Gymnastics has filed for bankruptcy protection.

The sports organization says it's a move to help resolve sexual abuse lawsuits involving Larry Nassar's sexual abuse.

USA Gymnastics estimates that it could cost between $75 million and $100 million to settle 100 lawsuits.
Nassar is currently in prison for sexually abusing hundreds of young women.