Yes but I doubt it will be permanent unless you send it in to them. Most of those are only going to exhibit a minimum of lateral play, which you actually need to allow the spring to work effectively and keep the point from peeking up out of hiding between the liners when closed. It sounds like yours may have a bit more than is within tolerance so its probably best to make it a warranty call. Now, if its an older 440C model my friend, make sure you cover the fact that you do not just want a new knife mailed to you but that you insist this one be fixed up to your liking. I don't know Buck's policy here but its not an apples to apples trade off to settle for one of the new ones compared to those older Micarta handled two or three pin 440C blade models, not by a long shot IMO.
For what its worth I bought a new one not long ago to compare to my older models and although its nice enough, and certainly within acceptable tolerances there are subtle differences between them besides things like more lateral movement in the pivot compared to the old ones and perhaps being stiffer to open. I find that that I like the used ones I've snagged from ebay with the red Micarata scales also referred to as Buckarta handles. Those have been hit or miss though. I mean now and then you get one sharpened down more than you like or could tell from the pics or its needing a major cleaning. Only once have I bought one that was not worth what I paid. Most of them turn out to be very nice little folders.
STR