Set among the hyper-wealthy parent community of Atherton Academy, a prestigious private school in downtown Manhattan, the novel opens with an ominous prologue: Something terrible has happened at the school's annual benefit, and one of the mothers is responsible. The identity of this "sociopath" hiding among the school's elite drives the narrative as the story rewinds to the first day of school.
Belle Redness, a fashion-obsessed Tribeca mom whose lifestyle is funded by her father, drops off her children, seventh-grader Hildy and fourth-grader Miles. Belle is preparing to launch a clothing line called Pippins Cottage Home, built around a single garment called "The Dress." At drop-off she reunites with her two closest friends: Morgan Chary, the relentlessly cheerful wife of Art Chary, founder of sneaker company Welly, who serves as the school's unofficial information clearinghouse; and Frost Trevor, a former It Girl whose avant-garde style makes her the group's most glamorous member. Morgan gossips about a striking new mother whose children have secured spots in nonentry grades, which rarely accept new students.
Sofia Perez arrives with her son and daughter, her bright yellow dress clashing with the other mothers' muted luxury. After drop-off, a homeless man charges the group and spits directly into Belle's open mouth. Sofia strikes the man with her purse and drives him away. The grateful women invite Sofia for drinks and dub her "our hero." Dr. Broker, Atherton's handsome, unmarried headmaster, offers Sofia the Atherton Altruist award for her actions, but she declines.
Frost is secretly sleeping with Art Chary, an affair that began a year earlier at a Fourth of July party in the Hamptons. They meet at Frost's private studio, where she works on mixed-media collages. Frost's marriage to Tim, an indie film producer whose career has stalled, has deteriorated under his controlling criticism. Beneath Morgan's peppy exterior, meanwhile, lies exhaustion and darkness. She secretly injects Wegovy, a weight-loss drug, to manage perimenopause, and her daughter Gertrude comes home crying about being bullied at school. During meditation, Morgan experiences violent intrusive thoughts about harming her friends.
Sofia's true circumstances are far grimmer than she reveals. She is nearly destitute, financially ruined when her husband, JP, a wealthy Miami real estate heir, discovered her affair with her personal trainer, Michael. Dr. Broker called out of the blue offering Atherton spots, claiming a friend had recommended her family, and Sofia has no idea who arranged this lifeline. She survives by letting her new friends unknowingly cover her expenses and has developed a habit of secretly following people around the city.
Troubling events accumulate. At the opening of Morgan's sound bath spa, Thyme & Time, a masked gunman robs guests before Sofia's confrontation causes him to flee. Belle's private email mocking other Atherton families is leaked to the entire school community, and at a fall party hosted by Ava Leo, an Atherton parent and Pinterest executive, the humiliated Belle is asked to leave. Dr. Broker corners Belle and kisses her, but she pushes him away, thinking of her husband, Jeff. Frost is struck by an e-scooter rider in a baseball cap. At Belle's press preview for Pippins Cottage Home, every guest wearing The Dress breaks out in rashes, destroying the line. Dead flowers filled with live lanternflies arrive at Belle's penthouse. The homeless man who attacked Belle is arrested near school, shouting, "She paid me!" A private detective notes that "the only commonality between any of these events is Sofia Perez," but the detective is a fraud: an out-of-work actor hired anonymously through TaskRabbit.
Frost's life takes dramatic turns. A famous art dealer wants to exhibit her collages after someone anonymously sent photos of the work. A
New York Post gossip item captures Frost dancing with younger men at a nightclub, and the Atherton WhatsApp chain erupts. That same night, Tim apologizes for his controlling behavior and declares his love. Afterward, Frost emails Art to end the affair.
At a Friendsgiving party, Atherton parent and lawyer Clara Cain publicly reveals that deepfake nude photos of Hildy have circulated among students. Belle, enraged that Frost knew and kept this from her, throws a drink in Frost's face. Later, Belle is found in a closet with Dr. Broker, who has been aggressively pursuing her all year. The four women stare at each other with deepening suspicion.
Dr. Broker's full role then emerges. Morgan discovered his fetish for erotic asphyxiation through an online alias and initiated a sexual relationship, visiting his office for choking sessions. In exchange, she makes escalating demands: specific teacher placements for Gertrude, Parents Association support, and the Atherton spots for Sofia's children. She also instructs Broker to seduce Belle.
At Frost's art exhibit, the lights go out. When they return, nude photos of Frost taken by Art, emblazoned with the word CHEATER, cover the walls. Belle's long braid has been cut off. Morgan convinces Belle and Frost that Sofia, through her driver Rodrick, is behind everything, and the three plan to sabotage Sofia's upcoming benefit.
Sofia, however, has been investigating on her own. She followed Morgan to City Hall Park and saw her meeting Rodrick. Through a Miami contact, she confirms Morgan had been gathering information about her long before they met. Sofia deduces that Morgan imported her to New York as a scapegoat. She reunites with Michael, who flies from Miami to support her, and installs hidden security cameras in her apartment for the benefit.
At the Surrealist Ball, guests who eat Sofia's homemade Colombian pudding begin collapsing at midnight. The crowd blames Sofia, but Frost warns her that Morgan tampered with the dessert. Rodrick's perspective confirms the full scope of Morgan's scheme: She recruited him by offering to get his gravely ill niece into Memorial Sloan Kettering, a renowned cancer hospital, with full financial coverage. He carried out every attack on Morgan's orders.
Frost and Belle learn the truth when a new detective traces the dead flowers to a florist whose description of the buyer matches Morgan. They reconcile with Sofia and join forces. At the Atherton Altruist ceremony, Sofia accepts her award and publicly exposes Morgan from the podium, playing security camera footage of Morgan pouring a vial into the pudding. A guard, paid by Frost and Belle, escorts Morgan from the building.
A final twist emerges through Gertrude's perspective. Morgan's 12-year-old daughter has been manipulating her mother all year: fabricating the bullying stories that turned Morgan against Belle, planting evidence to expose Frost's affair, creating the deepfake nudes of Hildy, and slowly poisoning Dr. Broker by slipping a toxin into his coffee for months. Gertrude also sent a compromising photo of Art with Tilly, the sound bath practitioner who became Art's subsequent affair partner, to people at Welly, triggering his professional ruin. Morgan calls Gertrude "a special girl," sealing their shared pathology.
The epilogue, narrated by Hildy the following school year, reveals the fallout. Belle has transferred her children to Brearley, kept her short hair, and begun couples therapy with Jeff. Frost's marriage has survived. Sofia's travel advisory business is thriving, Michael has moved to New York, and her children attend Friends Seminary. The Charys have relocated to California after Art's ouster from Welly. Hildy reveals she once found doctored photos on Jeff's computer showing Belle kissing Dr. Broker, sent by an unknown person to destroy her parents' marriage; she quietly deleted the email, protecting her mother without telling anyone. Hildy dreams of moving somewhere people are kinder and reflects that she has a bright future ahead.