#USA #Robbins Geller #San Diego #Class Action #Easterly Fund

Investors Unite: A Class Action Lawsuit Against Easterly ROCMuni Fund

In a significant turn of events, investors in the Easterly ROCMuni High Income Municipal Bond Fund, formerly known as the Principal Street High Income Municipal Fund, have a chance to take action after experiencing substantial financial losses. Robbins Geller Rudman & Dowd LLP has announced that those who purchased shares in the fund between May 5, 2023, and June 12, 2025, have until September 22, 2025, to step forward and seek the role of lead plaintiff in a class action lawsuit against the fund's management and trustees.

Case Overview

This class action lawsuit arises from allegations that Easterly ROCMuni Fund, under the management of James Alpha Funds Trust and Easterly Investment Partners LLC, violated several provisions of the Securities Exchange Act of 1933. Investors are encouraged to come forth if they experienced significant financial setbacks related to their investment during the specified timeframe, as they may be able to pursue claims for recovery.

Easterly ROCMuni Fund claims to focus on a diversified portfolio primarily targeting high-yield municipal bonds that are often overlooked. However, recent events have raised considerable concerns regarding the fund's management practices and the valuation of its assets. According to the allegations, the fund's leaders purportedly inflated the value of its portfolio assets, leading to misleading information about the fund's financial health and investment performance.

Allegations Detailed

The complaint argues that the defendants failed to disclose critical information regarding the fund’s asset valuation and liquidity. Specifically, it is alleged that:

1. The fund had reported artificially inflated asset prices that did not reflect their fair market value.
2. A serious flaw in the fund's pricing methodology led to a systematic overstatement of both the net asset value (NAV) and individual asset valuations, rendering them misleading for investors.
3. The fund's investments in illiquid assets and correlations amongst its holdings were not sufficiently communicated in its disclosures, representing a breach of trust to investors.
4. Consequently, the NAV per share was materially overstated, culminating in an unexpected and abrupt devaluation of approximately 30% on June 13, 2025.
5. Following this downturn, the shares continued to decline drastically, potentially threatening the overall financial stability of the fund and igniting fears of a collapse.

The Opportunity for Investors

For those who endured financial losses, the class action provides a structured opportunity to reclaim a portion of their investments. The process allows investors to not only express their grievances but also participate in directing the ongoing legal battle. A lead plaintiff, chosen from amongst affected investors, can dictate the course of the case and has the option to select their own legal representation.

Robbins Geller is a renowned firm in the domain of securities litigation, with extensive experience in corporate fraud class actions. Their past record speaks for itself, as they have successfully recovered billions for investors in similar cases, which underscores the importance of solidarity among affected parties.

Conclusion

As litigation looms, it is imperative for investors who suffered losses related to the Easterly ROCMuni Fund to act swiftly. Not only can they potentially gain restitution for their losses, but they can also assist in holding those responsible accountable for their actions. With the deadline for filing set for September 22, 2025, prompt action is essential. Interested parties should reach out to Robbins Geller for more information on how to proceed in this pivotal class action lawsuit. This opportunity encapsulates the community of investors coming together to seek justice, reclaim their losses, and advocate for transparency and accountability in financial management practices.

For more details about joining the lawsuit or to reach out to the attorneys handling this case, visit Robbins Geller's official page or contact their team directly.