Sue the PA, HAMAS all of them, for pain and suffering. Put the proceeds into a general fund (so that they can't target individual families) and use the proceeds to assist these families who are suffering mental anguish. Go after terror funds worldwide!
Lawsuits primarily help the lawyers.
People who are intent on spreading terrorism will not be stopped by lawsuits.
What's needed is what's happening - increased, armed, security & awareness so the children can have some measure of safety.
I feel bad for the students and parents. My prayers are going out to them.