Jefferies has sent a letter to its clients and shareholders in an attempt to clarify what it said were “half-truths, false rumors and lies” swirling around it in the last several weeks. The investment bank, has been dogged by market whispers about its European debt holdings and the strength of its balance sheet, following the collapse of MF Global. In the letter signed by Richard B. Handler, the bank’s chief executive, and Brian P. Friedman, the chairman of its executive committee, Jefferies reiterated the strength of its capital base and said it did not have a problem with its European exposure, as some critics have claimed. The bank said that a hedge fund, which it did not name, had sent it a list of questions about its holdings that showed “what we must presume is an intentional misreading of our public filings to try to support these rumors.” Those rumors have sent Jefferies’ stock price on a roller coaster ride in the last month, and engendered concerns that the bank could fall prey to the same forces that took down MF Global, the brokerage firm that filed for bankruptcy on Oct. 31.  For more info, go to [Dealbook, 11/21/11]