Actual shin splints are when the tibia (shin bone) begins to stress fracture (cracks). When a person complains about their shin splints, they are actually just complaining about the extensor muscles in their shins.
A person can relieve shin splints (tightness in the muscles) by stretching the calves because it is the antagonistic pair of muscles. If someone actually has shin splints then a trip to the doctor's may be necessary. Most likely, the doctor will just tell you to stay away from rigorous activity for a while. Remember this next time your friend is complaining about their shin splints.