Firstly, an apology is due to all nearby residents whose lives were disturbed by a few somewhat misbehaving students.

misbehaving 是动词 misbehave 的现在分词形式。misbehave 由前缀 mis-（表示"错误地"）和 behave（"行为、举止"）组成，字面意思是"行为不当"。misbehaving 在这里指"行为不端的、举止不当的"。