All three men were charged in November with conspiracy to commit first-degree sexual assault. Sanders also was charged with first-degree unlawful restraint.
Sanders attorney Wayne Keeney said an investigation showed that Travers was not in the room at the time and that the behavior of the other two did not rise to the level of a crime. The defense has said Triner was in the room while Sanders and the woman were being intimate.
"These guys were out of line, big time, and they know it, and they'll know it until the day they die," Keeney said, adding that the men apologized Wednesday in court.
The three players have returned to school. Sanders and Travers were reinstated to the lacrosse team Wednesday evening, said Gene Gumbs, a spokesman for the athletic department. Triner remains suspended from the team over an unrelated matter, Gumbs said.
A phone message seeking comment also left Thursday with state prosecutor Pamela Esposito, who decided not to pursue the charges.