Investors in Easterly ROCMuni Fund Urged to Join Class Action Lawsuit Against the Fund

Investor Alert: Class Action Lawsuit Filed for Easterly ROCMuni Fund Investors

In an important update for investors of the Easterly ROCMuni High Income Municipal Bond Fund, previously known as the Principal Street High Income Municipal Fund, Pomerantz LLP has announced the initiation of a class action lawsuit. This lawsuit concerns several claims regarding potential violations of federal securities laws and other unlawful business practices connected to the Fund. Investors are strongly encouraged to evaluate their position as critical deadlines approach.

Background of the Lawsuit

Pomerantz LLP, a prestigious law firm renowned for its focus on corporate securities and antitrust class litigation, filed the lawsuit on August 6, 2025. The firm suggests that shareholders of Easterly ROCMuni are affected by a series of deceptive practices associated with the management and valuation of the fund. The allegations imply that numerous parties, including investment companies, advisers, and individuals responsible for the Fund's operations, engaged in misconduct that misled investors.

Key Allegations

The heart of the legal complaint lies in several serious allegations:
1. Overvaluation of Assets: It claims the Fund had marked tens of millions of dollars' worth of portfolio assets at inflated prices, leading to valuations that did not accurately reflect their fair value.
2. Flawed Pricing Methodology: Pomerantz alleges that the Fund applied a fundamentally flawed pricing and valuation method, which systematically inflated its net asset value (NAV) and individual asset valuations.
3. Misrepresentation of Investment Strategy: The lawsuit details how the Fund had invested significantly in illiquid assets and failed to disclose this adequately in its offering materials.
4. Lack of Diversification: The allegations also state that the Fund's investments were less diversified and more correlated than previous communications indicated, potentially increasing the risk of investment loss.
5. Inaccurate NAV Reporting: Consequently, the NAV and historical performance statements were reportedly overstated, leading to a misleading perception of the Fund's financial health.
6. Undisclosed Risks: As a result, the Fund was allegedly subject to undisclosed risks that could cause a sudden drop in share prices.

How to Get Involved

Investors who acquired shares of the Easterly ROCMuni Fund during the Class Period should consider whether they wish to be involved in the lawsuit. They have until September 22, 2025, to apply for the position of Lead Plaintiff. Interested parties should reach out to Danielle Peyton at Pomerantz LLP, ideally providing their contact details and information regarding their shares.

For those looking for further details or to examine the class action complaint, additional information is accessible at Pomerantz Law.

Why It Matters

This lawsuit represents a showdown between investors seeking accountability and a high-profile financial firm. Class action lawsuits serve as an essential tool in the financial world, providing a means for individuals to band together to pursue legal recourse against larger entities that may have wronged them. As the case progresses, it could set a significant precedent regarding investor protection and corporate governance within the context of high-income municipal funds.

About Pomerantz LLP

Founded by the late Abraham L. Pomerantz, widely recognized as the dean of the class action bar, Pomerantz LLP has been fighting for investor rights for over 85 years. The firm has a proven track record of recovering significant damages for victims of securities fraud and corporate misconduct. With offices in major cities worldwide, including New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, Pomerantz is well-equipped to manage class action litigation effectively.

Conclusion

In conclusion, for investors in the Easterly ROCMuni High Income Municipal Bond Fund, this class action lawsuit presents an opportunity to hold accountable those responsible for any perceived wrongdoing. As deadlines loom, potential claimants should act swiftly and seek the legal guidance necessary to navigate this complex financial issue.