The fraternity at the center of the now discredited gang-rape story announced it will sue Rolling Stone for publishing the piece. An independent third-party review of the story was published yesterday, outlining the problems with the magazine's "reporting" and the police had announced earlier this year that they could find no evidence the rape happened as described.

"The report by Columbia University’s School of Journalism demonstrates the reckless nature in which Rolling Stone researched and failed to verify facts in its article that erroneously accused Phi Kappa Psi of crimes its members did not commit," UVA Phi Kappa Psi President Stephen Scipione said in a statement. "This type of reporting serves as a sad example of a serious decline of journalistic standards."

"After 130 days of living under a cloud of suspicion as a result of reckless reporting by Rolling Stone magazine, today the Virginia Alpha Chapter of Phi Kappa Psi announced plans to pursue all available legal action against the magazine," the fraternity said in a statement.

The fallout from the story "A Rape on Campus" were immediate. "Members of the fraternity reported being ostracized and having their fraternity house vandalized."

The author, Sabrina Rudin Erdely, wrote the story based on the claims of alleged victim "Jackie" without verifying any of the information provided.

Rolling Stone announced it will not fire or discipline any of the people involved with publishing the story. The fraternity has not ruled out suing Erdley and "Jackie" along with Rolling Stone.