#United States #Securities Fraud #Bensalem #Easterly Fund #RMHIX

Investors Seek Justice in Easterly ROCMuni Fund Fraud

The Law Offices of Howard G. Smith recently announced a significant opportunity for investors affected by losses in the Easterly ROCMuni High Income Municipal Bond Fund (formerly known as Principal Street High Income Municipal Fund). Shareholders have the chance to lead a class action lawsuit focused on securities fraud against the fund, which trades under the ticker symbols RMHIX, RMHVX, and RMJAX.

This class action is rooted in allegations that span from July 29, 2022, to June 12, 2025. During this time, various undisclosed risks and misleading financial practices related to the fund’s management have come to light, instigating a wave of investor concern.

Key Allegations in the Lawsuit

The lawsuit centers on several critical allegations that call into question the integrity of the fund's financial reporting and value assessment processes. The primary claims include:
1. Artificially Inflated Asset Valuations: The fund allegedly marked a substantial portion of its portfolio assets at inflated prices that did not accurately reflect their fair market value.
2. Flawed Pricing Methodology: Investigations reveal that the fund adopted a faulty pricing strategy which systematically exaggerated its net asset value (NAV) and compromised the valuations of individual assets.
3. Illiquid Asset Investment: Contrary to what investors were informed, the fund had invested more heavily in illiquid assets than represented in its offering materials.
4. Misleading Diversifications: The correlation among the fund's assets was far more pronounced and less diverse than disclosed, heightening potential risks and reducing the investment's safety net.
5. Overstated Historical Performance: Due to the aforementioned factors, the fund’s stated NAV and individual asset valuations were materially overstated, misleading investors about the true state of their investments.
6. Short-Term Collapse Risk: The lack of transparency about the fund’s operations has hidden a significant, undisclosed risk of a sudden decline in share prices.
7. Misleading Public Statements: Positive assertions made by defendants regarding the fund's business and operational prospects lacked a solid foundation, thereby misleading stakeholders.

Who Should Participate?

Investors who suffered financial losses during the specified time frame are encouraged to participate in this legal initiative. Those looking to take part must contact the Law Offices of Howard G. Smith before the critical deadline of September 22, 2025.

If you feel you qualify as an affected investor, you can reach out via email at [email protected] or by phone at (215) 638-4847. More information is also available on their website, www.howardsmithlaw.com.

Your Legal Rights

By joining the class action, you are not required to take immediate action, and you may decide to retain counsel or opt-out altogether. The lawsuit presents a vital opportunity for investors to seek restitution for their losses, advocating for transparency and accountability within the financial practices of the Easterly ROCMuni Fund.

As this case develops, it presents a crucial moment for investors to reclaim their losses while advocating for ethical standards in investment management.

Stay informed and act promptly to protect your financial interests in the upcoming class action against the Easterly ROCMuni Fund.