Plot
Rosman University students and Theta Pi sorority sisters Cassidy, Jessica, Ellie, Claire, Chugs, and Megan attend a party to celebrate their senior year, during which they pull a prank on Garrett, Chugs' brother and Megan's boyfriend, as revenge for his infidelity. As part of the prank, Chugs gives Garrett B-12 vitamins, telling him that they are roofies, and Megan fakes her death, leading to Garrett and the girls leaving for the steel mine to dump her body. However, he stabs her with a tire iron, inadvertently killing her. The group throws Megan's body and the tire iron down a mine shaft before vowing never to discuss the incident again, though Cassidy and Ellie are reluctant.
Eight months later, on the day of graduation, the girls all receive a text message from an anonymous person containing an image of a robed arm holding a bloodied tire iron. They initially suspect Garrett, but Chugs insists he has changed and is not mentally competent afterward. Amidst this, Megan's younger sister, Maggie, arrives at the university to honor her memory. Later, a hooded individual murders Chugs, her psychiatrist, Joanna - a sorority sister who overheard Claire and Jessica discussing Megan's death - and Claire's boyfriend Mickey, the last of which Ellie witnesses.
As Cassidy, Claire, Jessica, and Ellie regroup, they receive a text containing a video of Megan's death and a message demanding they return to the steel mine or else the video will be sent to the police. When the girls arrive, they encounter a guilt-ridden Garrett, who has cut his wrists. Still believing he is sending the texts, Jessica runs him over with her car, only to learn he had also received them. Ellie fears Megan is still alive and seeking revenge. The girls lower Cassidy down into the mine shaft where they threw Megan's body to confirm that she is still dead, but Cassidy finds a message written in blood saying, "Theta Pi must die" instead of Megan's body.
Upon returning to their sorority house, the girls receive a text from Chugs' phone saying she is dead, and Claire has been murdered. While searching for Jessica's boyfriend, Kyle, the girls encounter Maggie and their housemother, Mrs. Crenshaw. They reveal what they did to Megan. Mrs. Crenshaw tells them to lock themselves in a bedroom and call the police while she searches the house. Thinking Megan is alive, Maggie leaves to find her while Cassidy and Jessica look for Mickey's body to retrieve his cell phone. The killer murders Mrs. Crenshaw and attempts to kill Maggie with a Molotov cocktail, setting the house ablaze. Cassidy and Jessica eventually find Kyle, who attacks and injures Jessica. The pair flees to a bathroom, where they find Megan's corpse in the shower, before Kyle catches up to them and knocks out Jessica. Andy, Cassidy's boyfriend, saves them by killing Kyle, but Jessica notices the tire iron in his pocket, revealing him as the killer.
Having learned of Megan's death from Ellie and believing his future with Cassidy is in danger if the girls get caught, he set about killing everyone who knew of Megan's death. He subsequently kills Jessica, but Cassidy tricks him into thinking Ellie is in the basement. As he leaves to find her, Cassidy finds Ellie upstairs, and they attempt to escape, but Andy finds them. Hurt by Cassidy's betrayal, he attacks her while Ellie escapes. Upon hearing Maggie's cries for help, Cassidy tries to save her but is attacked again by Andy. Before he can kill her, Ellie grabs Mrs. Crenshaw's shotgun and shoots him. As the floor gives way and he falls to his death, the three girls escape the burning house as emergency personnel arrive.
A further 15 months later, Maggie is inducted into Theta Pi while a man with slashed wrists watches from afar.