In a word, yes! Obviously, per your article, it was done at the father's request. Stealing from someone is wrong regardless of age. Maybe you view what happened as extreme, and I agree that it may not be suitable for a first offense. But give the dad a break. He's obviously trying to set the child straight, and perhaps this isn't the first occurance.
His daughter wasn't the only one who learned a lesson that day in the classroom. Every other child present learned something, too. If this sent your child into therapy, then perhaps there are other issues you need to attend to. I, for one, encourage kids' exposure to the "real world" - and not some TV serial or video game where you can hit the reset button.
The father, the school and the truant officer had obviously coordinated this stunt in the best interest of the child. Now, isn't that what we should encourage? Home, school and authorities working together for the general good. Have you heard of "Scared Straight" programs? This may have been a miniature-sized one in the hopes the daughter's activities don't rise to needing the full program.
I applaud the father for being involved in his child's activities and his efforts in teaching his child right from wrong. Maybe if more parents did so we wouldn't need to build more prisons.