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UPDATE: Pennington has apologized to the students, according to a story on MLive.com:
“Yesterday, I made a mistake and sincerely regret my actions,” said Katie Pennington, in a statement. “Did I overreact? In retrospect, of course I did. My first response to learning of our high school seniors riding bikes to school on busy roads was to fear for their safety, and I responded in kind.”
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http://www.midwestenergynews.com/2012/05/23/when-riding-a-bike-is-a-prank