#USA #Los Angeles #Securities Fraud #Easterly Fund #RMHIX

Investors of Easterly ROCMuni Can Lead Class Action

In recent developments, investors who experienced financial losses with the Easterly ROCMuni High Income Municipal Bond Fund, also known by its previous name, Principal Street High Income Municipal Fund, now have a significant opportunity to take action against alleged securities fraud. The Law Offices of Frank R. Cruz have made a formal announcement, encouraging those affected to consider joining a class action lawsuit aimed at holding the responsible parties accountable.

Background of the Lawsuit

The lawsuit revolves around claims that between July 29, 2022, and June 12, 2025, the defendants, associated with the Easterly ROCMuni Fund, failed to provide critical disclosures to investors. The allegations state that the fund inflated the value of its portfolio assets by tens of millions of dollars. This misleading pricing did not accurately reflect the true fair value of these assets.

Furthermore, the fund reportedly utilized a flawed methodology for pricing and valuing its assets, leading to a systematic inflation of the fund's net asset value (NAV) and valuations of individual investments. The issues go deeper, indicating that the fund had a more substantial investment in illiquid assets than what was disclosed in its offering materials. Additionally, it was revealed that the asset correlation and diversification were not accurately represented, painting a misleading picture of the fund’s risk profile.

As a result of these actions, various financial metrics including the stated NAV, NAV per share, individual asset valuations, and previous performance records were materially overstated. This misrepresentation has allegedly exposed the fund to significant risks, culminating in price collapses of the fund's shares which were not disclosed to investors.

Taking Action

For investors affected by the mismanagement of the Easterly ROCMuni Fund, the announcement presents a pivotal opportunity to participate in the ongoing lawsuit. Those who have suffered losses are urged to act before the lead plaintiff deadline of September 22, 2025. Interested parties can obtain more information regarding their potential involvement in this class action lawsuit by contacting the Law Offices of Frank R. Cruz.

Contact Information

If you are an investor who suffered losses in the Easterly ROCMuni High Income Municipal Bond Fund, it is crucial to reach out. You can contact the Law Offices by email at [email protected], or by phone at 310-914-5007. Additionally, they provide updates on their Twitter handle, ensuring you stay informed about the lawsuit’s progress.

For those considering joining the class action, no immediate action is required. They can opt to retain legal counsel or remain as passive members of the class. This legal process promises to contest the perceived injustices faced by numerous investors.

Conclusion

In summary, investors with claims against the Easterly ROCMuni High Income Municipal Bond Fund must be proactive in addressing their grievances. The proposed class action lawsuit aims to shed light on manipulation and deception that has affected the investments of many. As the deadline approaches, it is vital for affected investors to stay informed and consider their options carefully.