Rolling Stone got off easy with this. The fraternity should have ended up owning the magazine.

The Daily Caller reports:

Rolling Stone Settles With University Of Virginia Fraternity Over Rape Hoax Article

Rolling Stone has settled a lawsuit with the University of Virginia fraternity whose members were falsely accused of raping a female student in a Nov. 2014 article, The Daily Caller has learned.

A source involved at the national level with the fraternity, Phi Kappa Psi, tells TheDC that Rolling Stone will pay $1.65 million to settle the defamation suit.

The magazine’s decision follows a settlement in April with Nicole Eramo, a University of Virginia associate dean who was also smeared in the article, which was written by Sabrina Rubin Erdely.

In the piece, “A Rape on Campus,” Erdely relayed the story of Jackie Coakley, a Virginia woman who claimed she was brutally raped by a group of Phi Kappa Psi fraternity members during a party in Sept. 2012.

Erdely portrayed Eramo as dismissive of Coakley’s case. But it was later revealed that Coakley not only fabricated the attack by the fraternity members but that Eramo took her allegations seriously at the time she made them.

A jury in Virginia awarded Eramo $3 million in damages — $2 million from Erdely and $1 million from Rolling Stone.