What do do? Sue teacher over lost/stolen mp3 player?

it was the last 20min of the school day in my last cl.. ppl were talking out loud not doing any work like "free time" anyways i let 2 ppl listen to it and then the teacher comes and says "hand it over" i was like what?! ok ill put it away but to no evail.he said it was my 3rd time cathing me with it when actually it was my first but he says it doesnt matter and said i can get it back from the administration after some more begging he said "ok come to my cl tomarrow morning" and he just opened a door in his desk and put it in there {not even puting it in a safe place to lock it in] so today i went and he ask me if i took it i said no because he says he dosnt have it! he said proely some1came and stole itso i said what now he said he will get a police report done i left then later in the day the security officer calls me to office i told him what happened and he said if nothing happens by end of week my parents can tell my administartor that my teacher has to pay for it