Opportunity for Investors to Lead Class Action Against Easterly ROCMuni High Income Fund

Investors Seek Justice: Class Action Against Easterly ROCMuni Fund

In recent news, investors who faced losses due to their investments in the Easterly ROCMuni High Income Municipal Bond Fund, also known as Principal Street High Income Municipal Fund, are presented with an opportunity to take legal action. A class action lawsuit has been launched against the fund, managed by Easterly, and investors are encouraged to participate as leading plaintiffs in this significant legal battle.

What Triggered the Lawsuit?

The allegations detailed in the complaint suggest that between July 29, 2022, and June 12, 2025, the fund's managers provided notably misleading information regarding the value of the fund's portfolio. Specifically, it is claimed that:

1. The fund marked tens of millions of dollars' worth of its portfolio assets at inflated prices, not reflective of the fair market value.
2. There existed a fundamentally flawed pricing methodology that inaccurately represented the fund's net asset value (NAV).
3. The fund was involved in a greater proportion of illiquid assets than what was disclosed in the initial Offering Materials.
4. A close correlation of the fund's assets resulted in reduced diversification, contrary to previous representations.
5. The eventual outcome of these manipulations meant that the fund's stated NAV, share price, and historical performance were significantly overstated, presenting a false picture of financial health.
6. Investors remained unaware of the heightened risks associated with a sudden devaluation of the fund shares.
7. Defendants’ positive statements regarding the fund's operations and outlook were misleading and lacked sufficient foundation, thereby violating investor trust.

The Implications for Investors

For affected investors, this lawsuit presents a crucial chance to recover their losses and hold the defendants accountable for their claims. It is important to act quickly, as the deadline for becoming a lead plaintiff is set for September 22, 2025. By participating in this class action, investors can potentially reclaim their funds and seek justice for the losses suffered.

How to Participate

If you were an investor in the Easterly ROCMuni Fund and experienced financial losses, you are encouraged to reach out for more information on how to secure your place in this legal claim. Glancy Prongay & Murray LLP is leading the charge in this lawsuit, and they offer guidance for those wishing to join the action. Interested individuals can contact Charles Linehan, an attorney at Glancy Prongay & Murray LLP, for further assistance. To initiate your claim or inquire more about the situation, potential plaintiffs can reach out via email or phone. Requirements for participation include providing basic information such as your mailing address, the number of shares purchased, and a brief account of your investments in the fund.

Conclusion

This developing story highlights the critical importance of transparency and accountability in investment funds. The outcome of this lawsuit could set a precedent for other investors facing similar challenges, reinforcing the need for honest-representation mechanisms within municipal bond funds and other investment vehicles. Affected investors should promptly assess their options and consider joining this class action to safeguard their interests and pursue rightful compensation for their losses.