#United States #Class Action #Los Angeles #Securities Fraud #Easterly Fund

Investors in Easterly ROCMuni Fund Can Lead Class Action

In a significant development for investors, Glancy Prongay & Murray LLP has announced an opportunity for shareholders of the Easterly ROCMuni High Income Municipal Bond Fund (formerly known as Principal Street High Income Municipal Fund) to lead a class action lawsuit for securities fraud. This action comes in response to allegations that the Fund, identified by the stock symbols RMHIX, RMHVX, and RMJAX, misled investors by inflating asset valuations and failing to disclose critical financial risks.

Background of the Lawsuit

The allegations in the lawsuit span a crucial period between July 29, 2022, and June 12, 2025. The defendants are accused of misrepresenting the valuation and investment practices of the Fund. Specifically, they reportedly marked portfolio assets at inflated prices that did not reflect their true fair value. Moreover, the suit points out that there was a flawed pricing methodology which artificially boosted the Fund's net asset value (NAV) and the valuations of individual assets.

According to the complaint, the Fund's disclosure materials failed to adequately inform investors about the extent to which it was invested in illiquid assets, as well as the lack of diversification in its holdings. These misstatements might have provided a false sense of security, leading investors to believe they were making informed decisions based on reliable financial data.

Additionally, the complaint states that the Fund was exposed to significant undisclosed risks which could result in a sudden collapse of its share price. This lack of transparency and accountability, the lawsuit claims, acted as a barrier preventing investors from making fully informed decisions about their investments.

How to Participate in the Lawsuit

For investors who experienced financial losses linked to their investments in Easterly ROCMuni Fund, this is a crucial moment. The law firm is looking to connect with those who wish to join the class action. Interested parties are encouraged to reach out before the lead plaintiff deadline of September 22, 2025. By participating, they can bring their claims to the forefront and potentially recover some of their losses.

Glancy Prongay & Murray LLP invites affected investors to contact them for further information about their rights regarding this lawsuit. It is recommended to include pertinent information such as the number of shares purchased and contact details when making inquiries.

The Implications of the Lawsuit

This case highlights significant issues regarding investment transparency and corporate governance in the municipal bond sector. As more investors become aware of the complexities and risks associated with such funds, actions like this may prompt a reevaluation of investment practices across the industry. Investors have the right to expect truth in representations made by the companies they entrust with their capital.

With a potentially high number of affected investors, this class action could serve as a watershed moment, not only for those financially impacted by the Easterly ROCMuni Fund but also for others in similar scenarios.

Conclusion

Investors should take note of this opportunity to stand against perceived injustices in financial markets. Given the evolving landscape of class actions and securities fraud claims, this may be an excellent opportunity for shareholders to come together and seek justice. For additional guidance, stakeholders are advised to consult legal professionals to determine the best course of action moving forward.

Stay informed about this case and your rights as an investor—be proactive in protecting your financial interests.