Oh, this is such bullshit. Their parents have just fucking thrown their futures out the goddamn window because they're too worthless and gutless to challenge a fucking school principal? Jesus Christ, they're the smartest kids in school, they could have major careers and these morons are just throwing this all out the window? And they didn't even have the guts to fucking TELL them, so they ended up having to find out the hard way by actually showing up at school?!
Like if it's really hard to beat the principal, fine--explain to your kids that they're going to have to switch to a different school, but then go to the principal and be like "There is no way we're going to let you ruin our children's reputations and throw them out of school when the video proof is there, unless you pay through the nose. Cough it up or the scandal will be huge. We will take the video to the police and say you're making false accusations against our children, and we'll put pictures up on the web from your boy, that video, and our kids, showing which faces match, unless you make it very much worth our while. You might still be able to get it blamed on our kids, but plenty of people will know different and you'll have to call in some favours, owe the police and probably the school district superintendent, and next time your boy does something--and you know he will--everyone will remember this. So come on, if you want to save your family name by trashing ours, how you going to make it up to us?"
But it really seems like the parents just folded and they're going to have the kids go straight into the world of (low-wage, no qualifications) work when they could have had contenders. They're even crap at self-interest, much less caring for their kids. Someone tell me future chapters show them not quite that abysmal.