I thought it was really good - Hugh Jackman was great, of course. Doing some reading, the female business admin has passed away and superintendent is now out of prison and still collects a whopping $175,000 public pension until he croaks. He also claims the side relationship he had in the movie was fabricated, as was the entire part about the student journalist.
Here's the most detailed article I could find. Roslyn, in a ritzy area of Long Island, NY really did get up to the #4 ranked public high school in the US. After this went down they fell to current #367.
https://nymag.com/nymetro/urban/features/9908/