As a public figure under New York Times v. Sullivan, Cain cannot successfully bring a defamation action unless he can show the defendant was motivated by "actual malice".
Do you really think Lin Wood doesn't know his business?
Would Mr. Cain's chance for a successful defamation action be undermined by a statement denying the accusation, whether from Mr. Wood or from Mr. Cain? How long are Mr. Cain's supporters supposed to wait for a denial?
I want to think the best of Herman Cain. I would like to see him as our standard bearer in 2012, in fact. But the delay makes it look like he's trying to figure out whether he had an affair with this woman or not.