Class Action Filed Against Easterly ROCMuni High Income Municipal Bond Fund f/k/a Principal Street High Income Municipal Fund – Investors with Losses Encouraged to Contact Johnson Fistel
SAN DIEGO, July 23, 2025 (GLOBE NEWSWIRE) -- Shareholder rights law firm Johnson Fistel, PLLP, announces that a class action lawsuit has been filed on behalf of investors who purchased shares of Easterly ROCMuni High Income Municipal Bond Fund f/k/a Principal Street High Income Municipal Fund (the “Easterly ROCMuni Fund”) (NYSE: RMJAX; RMHVK; RMHIX) between May 5, 2023 and June 12, 2025, inclusive (the “Class Period”). If you wish to serve as lead plaintiff, you must move the Court no later than September 22, 2025.
If you have incurred significant losses and want to act as the lead plaintiff in the class action lawsuit or determine your eligibility to receive a potential recovery, please submit your details here: https://www.johnsonfistel.com/investigations/easterly-rocmuni-high-income-municipal-bond-fund-principal-street-high-income. For more information, contact James Baker at (619) 814-4471 or jimb@johnsonfistel.com.
The Easterly ROCMuni class action lawsuit alleges that defendants made false and/or misleading statements and/or failed to disclose that: (i) the Easterly ROCMuni Fund had marked tens of millions of dollars’ worth of its portfolio assets at artificially inflated prices that did not reasonably reflect the fair value of those assets; (ii) the Easterly ROCMuni Fund had implemented a fundamentally flawed pricing and valuation methodology which had systematically inflated the Easterly ROCMuni Fund’s NAV and individual asset valuations; (iii) the Easterly ROCMuni Fund was more heavily invested in illiquid assets than disclosed in its Offering Materials; (iv) the Easterly ROCMuni Fund’s assets were more closely correlated and less diversified than disclosed in its Offering Materials; (v) as a result, the Easterly ROCMuni Fund’s stated NAV, NAV per share, individual asset valuations, and historical performance were materially overstated; and (vi) consequently, the Easterly ROCMuni Fund was subject to a material undisclosed risk of a sudden collapse in the price of Easterly ROCMuni Fund shares.
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Johnson Fistel, PLLP is a nationally recognized shareholder rights law firm with offices in California, New York, Georgia, Colorado, and Idaho. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. We also extend our services to foreign investors who have purchased on US exchanges. Stay updated with news on stock drops and learn how Johnson Fistel, PLLP can help you recover your losses. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com.
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In 2024, Johnson Fistel was honored to be ranked in the Top 10 Plaintiff Law Firms by the ISS Securities Class Action Services. This recognition underscores our effectiveness in advocating for investors, having recovered approximately $90,725,000 for aggrieved clients in cases where we served as lead or co-lead counsel. This notable accomplishment marks the eighth occasion our firm has been recognized as a top plaintiffs’ securities law firm in the United States, as determined by the total dollar value of final recoveries.
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Contact:
Johnson Fistel, PLLP
501 W. Broadway, Suite 800, San Diego, CA 92101
James Baker, Investor Relations or Frank J. Johnson, Esq.
(619) 814-4471
jimb@johnsonfistel.com or fjohnson@johnsonfistel.com
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