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Report: Boy Scouts of America may file for bankruptcy

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(CNN) - The Boy Scouts of America is considering bankruptcy.

The Wall Street Journal is reporting the organization has hired a law firm to possibly file for Chapter 11 bankruptcy. 

It's a way for the organization to deal with all the lawsuits it faces, brought by former scouts saying they were sexually abused or harassed by employees.

In a statement, the Scouts said no immediate decisions about bankruptcy are expected.

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