What he did violated the school policy but if it were me...I'd rather violate the policy than get beaten up. Those asshole kids should be thankful he acted non-violently by raising it in the air instead of pointing it at them. And as for them telling him to tone down his dress, WTF? As long as he didn't violate the dress code he should be free to wear whatever he wants without fear of brutality from other people.
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