After one too many incidents of bad behavior at his last school, Owen Matthews (Julian Morris) arrives at Westlake Prep -- where a young woman has recently been found murdered in the dark woods near the boarding school's campus. Owen quickly falls in with the school's unofficial "liars' club," including the beautiful and savvy Dodger (Lindy Booth) and quick-talking, short-tempered Tom (Jared Padalecki).
At Owen's suggestion, his new friends decide to expand their game's reach beyond campus by spreading an online rumor that a serial killer called "The Wolf" committed the recent murder and is planning to strike again, even going so far as to describe the intended victims.
When the described victims suddenly start to disappear, Owen, Dodger and Tom are no longer able to determine where the lies end and the truth begins. As someone -- or something -- starts hunting the players themselves, the game turns terrifyingly real.