Jefferies (JEF) Volatility Shoots Higher Following EU Debt News, Statement

Jefferies (NYSE: JEF) implied volatility shot higher Thursday, from 69 to about 164, following rumors of EU sovereign debt risk.

Jefferies has since issued a statement highlighting it's exposure to PIIGS, and states it has no meaningful net exposure to EU sovereign debt.

Shares are about 7 percent lower on the session following three volatility halts.

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