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So the question that will soon be settled in court
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I'm not sure who is suing who (the parents don't seem like they blame the fraternity or the school in the articles I read), but the fraternity pretty much CYA'ed by dissolving the chapter. As a former fraternity member (business, not social, although we were pretty social at times), the national organizations are very conscious of liability (thats why they are all headquartered in IN), and have already limited their risk.
It truly is a shame what happened to Sam, but the fact of the matter is that binge drinking is not going to go away on college campuses...its been around pretty much since the turn of the century (and probably before that). My personal opinion is that the more they attempt to regulate it, the more it goes underground and in places that there are no checks and safety mechanisms to cut people off.