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1.
To mess up the sistuation, to screw over a person or group of people by narking on them or mentioning someing to the wrong person. to tell a secret or reveal senstave information to people that could use it for blackmail.
"Damn Tommy, you really shanked the cat this time, why did you tell melinda that i was allergic to her perfume!"

"Don't shank the cat billy, don't mention that you are inlove with sally, OK!"
by LaidBackGuy1988 December 09, 2005