Absolutely...If you dont get the grades or the SAT scores,it surely does happen..Saw it firsthand...
Admissions has every right to deny. This is why it's called a verbal committment.Nothing it set in stone,until signing day. It will happen more often now,with all this early recruiting..Its also gonna happen as parents,realize that a school that they have verbally committed their son/daughter to,may NOT be the right fit...And there will be another student/athlete that will fit that spot...