Easterly ROCMuni High Income Municipal Bond Fund

Background

Company Name	Easterly ROCMuni High Income Municipal Bond Fund
Stock Symbol	RMHIX, RMHVX, RMJAX
Class Period	July 29, 2022 to June 12, 2025
Lead Plaintiff Motion Deadline	September 22, 2025

Submit Your Information

If you suffered a loss on your Easterly ROCMuni High Income Municipal Bond Fund investments or would like to inquire about joining an action to recover your loss under the federal securities laws, please complete the form below. Please note that submission of this form does not by itself form an attorney-client relationship nor does filing out this form mean you have joined any lawsuit.

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Did you purchase any shares before July 29, 2022?

Shares Purchased

Number of Shares	Buy Date	Price Per Share	Add
Purchased quantity	Purchased month Purchased day Purchased year

Shares Sold

Number of Shares	Sell Date	Price Per Share	Add
	Sold month Sold day Sold year

Additional Comments

Background

On June 13, 2025, the Fund abruptly slashed the value of its shares by 30%, with the value of shares continuing to fall in subsequent days. Industry news source The Bond Buyer reported the collapse was indicative of Fund-specific issues like “flawed pricing,” “illiquidity,” and the fact that the Fund was insufficiently “diversified.” The article further noted that the Fund was heavily invested in junk investments with a “lack of credit transparency.” According to the article, many bonds traded at a massive discount to their previously evaluated prices, including one instance where an investor paid just four cents for what had previous been represented as $3.2 million in bonds for a metal recycling company.

The total net assets of the Fund have collapsed from over $230 million as of March 31, 2025 to less than $17 million as of July 8, 2025.

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Fund’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that the 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; (2) that the Fund had implemented a fundamentally flawed pricing and valuation methodology which had systematically inflated the Fund’s net asset value (“NAV”) and individual asset valuations; (3) that the Fund was more heavily invested in illiquid assets than disclosed in the Offering Materials; (4) That the Fund’s assets were more closely correlated and less diversified than disclosed in the Offering Materials; (5) That, as a result of the foregoing, the Fund’s stated NAV, NAV per share, individual asset valuations, and historical performance were materially overstated; (6) that, as a result, the Fund was subject to a material undisclosed risk of a sudden collapse in the price of Fund shares; and (7) as a result, Defendants’ positive statements about the Fund’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

Submit Your Information