Pomerantz Law Firm Files Class Action Against Easterly ROCMuni Fund Investors Notified of Lawsuit

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

Pomerantz LLP, a prominent law firm based in New York, has recently announced that a class action lawsuit has been initiated on behalf of a group of investors in the Easterly ROCMuni High Income Municipal Bond Fund, formerly known as the Principal Street High Income Municipal Fund. This alert is particularly relevant for investors who purchased shares in the fund under the ticker symbols RMHIX, RMHVX, and RMJAX.

The firm encourages affected investors to reach out to Danielle Peyton via email at [email protected] or by phone at 646-581-9980 for further information about participating in the action. It is advised that any correspondence includes essential details such as mailing address, phone number, and number of shares owned.

This lawsuit addresses alleged violations of federal securities laws and claims of possible fraudulent business practices. Those investors who have acquired shares during the class period have until September 22, 2025, to apply for lead plaintiff status. A comprehensive view of the complaint can also be accessed on the Pomerantz Law Firm's website.

Background of the Case

The lawsuit accuses key figures and entities involved with the Easterly ROCMuni Fund management, including investment companies and advisers, of misrepresentation in the materials associated with the fund's offering. These documents allegedly contained substantial misstatements and omissions that could mislead investors. The firm outlines several core issues, including the inappropriate valuation of the fund's assets that were marked at inflated prices and the employment of flawed methodologies regarding pricing that drastically inflated the net asset value (NAV) and valuation of individual assets.

Further accusations highlight that the fund had a heavier investment in illiquid assets than disclosed, contributing to a risk that was not clearly communicated to investors, leading to an overstated representation of the NAV. In essence, the complaints suggest that essential facts regarding the fund's performance and stability were not adequately shared with investors, which could have material consequences on the fund’s valuation and attract potential penalties.

The Importance of Legal Action

The Pomerantz Law Firm, with extensive experience in litigation pertaining to corporate, securities, and antitrust matters, has established itself as a key player in advocating for investor rights. Their history shows a commitment to pursuing claims related to securities fraud, misconduct within corporations, and breaches of fiduciary duties, having recovered significant compensation for class action members throughout their 85-year existence.

For even routine investors, such actions are integral to exposing malpractice and ensuring accountability within the financial industry. Since the allegations relate to serious violations of trust in investment management, taking legal action serves both as a means of recovery and as a cautionary tale for others in the sector, promoting ethical behavior and transparency in financial practices.

Investors are reminded that interest in these legal actions should not be underestimated as they enhance the accountability and responsibility of investment firms in handling fund management judiciously.

Conclusion

In conclusion, investors associated with the Easterly ROCMuni High Income Municipal Bond Fund are advised to stay informed and participate if applicable. The importance of timely responses in such matters cannot be overstated, particularly with upcoming deadlines. For those affected, proactively engaging with a legal consultancy such as Pomerantz can be a crucial step in seeking redress for potential losses incurred from the alleged mismanagement of fund assets. Legal channels exist not only to seek reparative measures but also to uphold the integrity of investment practices, something that ultimately benefits the financial sector as a whole.