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

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

In a significant development for investors, Pomerantz LLP has initiated a class action lawsuit concerning the Easterly ROCMuni High Income Municipal Bond Fund, also previously known as the Principal Street High Income Municipal Fund. This alert serves as a notice to shareholders about the ongoing situation and provides essential deadlines for participation in the legal proceedings.

Details of the Class Action Lawsuit

The lawsuit reflects serious allegations about the practices associated with the Fund. The plaintiff claims that the investment entities—along with their advisors and underwriters—distributed misleading information regarding the Fund’s financial standing and investment strategies. The crux of the complaint revolves around several violations related to federal securities laws, as well as accusations of unlawful business practices.

Key Allegations

According to the complaints filed, multiple specific assertions suggest that:

• - Misrepresentation of Asset Valuations: The Fund purportedly marked tens of millions of dollars worth of portfolio assets well above their fair market value, creating a false impression of financial stability.
• - Flawed Valuation Methodologies: The pricing strategies utilized to assess asset value may have further inflated the Net Asset Value (NAV) of the Fund, resulting in an inaccurate depiction of financial performance.
• - Concentration in Illiquid Assets: Investors were reportedly not fully informed about the Fund’s greater investment in illiquid assets, which poses significant liquidity risks.
• - Alarming Correlations and Lack of Diversification: The Fund reportedly had a higher correlation between its assets and less diversification than disclosed, raising red flags regarding investment risk.

These factors collectively imply that the Fund’s reported NAV was materially higher than it should have been, leading to an exaggerated perception of the Fund’s viability. This could indicate a disturbing underlying risk that may ultimately result in a rapid depreciation of the Fund's share prices.

Next Steps for Investors

Investors who believe they have been affected by these practices are encouraged to act swiftly. Those wishing to join the class action as a lead plaintiff have until September 22, 2025 to submit their request to the Court. Enquiry can be made by contacting Danielle Peyton at Pomerantz LLP via email at [email protected] or through the firm's toll-free number 888.4-POMLAW, Ext. 7980.

Additionally, interested parties who reach out via email are advised to provide their mailing address, phone numbers, and details regarding the shares they purchased, to expedite the process.

About Pomerantz LLP

With a distinguished history spanning over 85 years, Pomerantz LLP is recognized as one of the foremost law firms specializing in corporate, securities, and antitrust class litigation. Founded by Abraham L. Pomerantz, a pioneer in the area of securities class actions, the firm has a robust track record of recovering substantial damages for its clients. Pomerantz's commitment to their clients reflects their ongoing mission to uphold justice in the realm of financial discrepancies and corporate malpractices. For further information regarding the lawsuit or to review the complaint, visit www.pomerantzlaw.com.

In conclusion, investors are urged to be vigilant and responsive to these developments, as this lawsuit could have significant implications for those involved with the Easterly ROCMuni High Income Municipal Bond Fund.