Okay, in light of all this new information, then yes definitely I would be all over this principal. There is no excuse for getting physical like that with your students, unless the student is himself violent in the extreme and a danger to others.
This guy should not be a principal. You don't want him doing this shit to other kids for years to come, maybe breaking someone's arm or worse. Get a lawyer, have the lawyer talk to witnesses of the incident, and have this principal charged with assaulting a minor.
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