#United States #New York #Class Action #Pomerantz LLP #Easterly ROCMuni Fund

Investor Alert: Class Action Lawsuit Filed Against Easterly ROCMuni Fund

Pomerantz LLP, a prominent New York-based law firm known for its dedication to corporate and securities litigation, has announced a significant development for investors who may have been misled by the Easterly ROCMuni High Income Municipal Bond Fund, formerly known as the Principal Street High Income Municipal Fund.

The firm has initiated a class action lawsuit on behalf of investors who acquired securities in the Fund, which trades under the ticker symbols RMHIX, RMHVX, and RMJAX. This action comes in light of allegations that the Fund, managed in part by various investment companies and advisers, engaged in practices that potentially violate federal securities laws. Investors are encouraged to contact Pomerantz to explore their eligibility to participate in the lawsuit. The deadline for involvement as a Lead Plaintiff is September 22, 2025.

Background on the Allegations

The lawsuit revolves around misleading practices concerning the Fund's offering materials. It is alleged that these documents contained false statements or omitted crucial facts that would have clarified the risks associated with the Fund’s investments. The claims include serious accusations that the Fund's portfolio was valued using inflated prices, leading to an unrealistic assessment of its net asset value (NAV). Specifically, it is asserted that:
1. The Fund’s assets were marked at values not reflective of their true market worth, inflating the perceived asset base significantly.
2. Key valuation strategies employed by the Fund were fundamentally flawed, which could have led to consistent overvaluation of both the Fund’s NAV and its individual assets.
3. The Fund's investment in illiquid assets exceeded what was disclosed, posing potential risks to investors that were not communicated properly.
4. The asset correlation and diversification mentioned in the offering documents were misrepresented, contributing to a false sense of security for investors.

These misrepresentations culminated in a risk of abrupt declines in the value of Fund shares, an essential factor that investors may not have been adequately informed about.

The Role of Pomerantz LLP

Celebrated as a leading force in class action litigation, Pomerantz LLP has a rich history spanning over 85 years, with a focus on defending the rights of individuals against corporate wrongdoings. The firm was established by the late Abraham L. Pomerantz, who is recognized as a pioneer in the field of securities class actions. Today, Pomerantz LLP continues to uphold that tradition, advocating for victims of securities fraud and corporate misconduct, boasting significant recoveries on behalf of its clients.

Take Action

Investors who believe they have been impacted by these actions are strongly encouraged to reach out to the firm. Danielle Peyton can be contacted at [email protected] or via telephone at 646-581-9980. Those interested should provide their name, contact information, and details about their investment in the Fund. This is a critical moment for investors, and swift action may be necessary to safeguard their interests.

For further information about joining the class action, individuals can also visit the official Pomerantz LLP website at www.pomerantzlaw.com, where more details about the lawsuit are provided.

Conclusion

This class action lawsuit marks a pivotal step for investors in the Easterly ROCMuni High Income Municipal Bond Fund who may have been misled about the Fund's true financial health and risk exposure. With Pomerantz LLP at the helm, investors now have the opportunity to seek redress and potentially recover losses incurred as a result of these alleged violations.