Investors in Easterly ROCMuni High Income Municipal Bond Fund Faced with Class Action Lawsuit

Investor Alert: Class Action Lawsuit Filed Against Easterly ROCMuni High Income Municipal Bond Fund

The Pomerantz Law Firm recently announced a significant class action lawsuit targeting investors in the Easterly ROCMuni High Income Municipal Bond Fund, previously known as the Principal Street High Income Municipal Fund. This lawsuit has raised serious questions regarding the management and evaluation practices of the fund, which could have far-reaching implications for current and former investors.

Background of the Fund

The Easterly ROCMuni High Income Municipal Bond Fund, listed under the NASDAQ ticker symbols RMHIX, RMHVX, and RMJAX, has come under scrutiny due to allegations of misleading business practices. Investors who purchased or acquired shares in the fund during the class period are particularly affected, as they may have acquired them under false pretenses.

Allegations

The key allegations in the lawsuit point to numerous violations of federal securities laws. Specifically, it is claimed that those responsible for the fund's investment activities issued misleading documentation, failing to disclose critical information. Among these allegations are:
1. The fund marked various portfolio assets at inflated prices that did not accurately reflect their real value.
2. A flawed pricing methodology was employed, leading to an inaccurate representation of the fund's Net Asset Value (NAV).
3. There was a higher investment in illiquid assets than what was disclosed in the fund's offering materials.
4. The fund's asset correlation was higher and less diversified than presented to investors.
5. Furthermore, investors were led to believe the fund's previous performance was materially overstated.
These points raise concerns not just about transparency but also about potential undisclosed risks that investors may have unwittingly taken on.

Call to Action

Investors affected by these developments are encouraged to take immediate action. Information on how to get involved in the class action can be accessed through the firm or by contacting Danielle Peyton at Pomerantz LLP. The court deadline for potential lead plaintiffs is September 22, 2025, which adds urgency for those wishing to participate.

About Pomerantz LLP

Pomerantz LLP stands as a leader in the fields of corporate securities and antitrust class litigation, with a legacy spanning over 85 years. The firm has been at the forefront of championing the rights of investors, recovering substantial damages owed to those wronged by corporate misconduct. Investors seeking representation or information about the class action can find further details at Pomerantz Law Firm.

For those who have engaged in investments within the Easterly ROCMuni High Income Municipal Bond Fund, the current legal landscape holds the potential for significant developments. It is crucial to stay informed and seek legal counsel if you're uncertain about your rights or the implications of these proceedings. The path ahead may be complex, but taking action now could protect your interests in this unfolding situation.