Players being placed on waivers is a common occurrence in the NHL, given the 32 teams and 23-player rosters, there's a constant shuffling of players. However, it's very rare for a team to change its mind. When they decide to place a player on waivers, it usually happens.
The San Jose Sharks did just that today. According to information from Frank Seravalli, forward Kevin Labanc was on the verge of leaving the Sharks, as he has yet to play this season.
A turn of events in this case, as after announcing the news to the player, the Sharks appear to have reversed their decision.
We don't know what happened behind the scenes, but clearly, a discussion between the player and the team resulted in the decision to waive Labanc being reversed.