1. Easterly ROCMuni Fund shares fell over 30% on June 13, 2025. 2. RMJAX's per-share NAV dropped from $6.13 to $4.31 suddenly. 3. The fund's total net assets decreased from $230 million to under $17 million. 4. A class action lawsuit has been filed against the fund. 5. Investors must contact the law firm by September 22 to participate.
The steep decline in NAV and assets indicates severe investor loss and potential trust issues. Historically, similar cases have led to prolonged underperformance and regulatory scrutiny.
The lawsuit and sudden decline are pivotal for RMJAX's reputation and pricing.
Immediate negative sentiment will affect RMJAX's price as investors react. Such impacts often drive prices down quickly due to investor fear.
NEW YORK, Aug. 21, 2025 /PRNewswire/ -- Wolf Haldenstein Adler Freeman & Herz LLP announces that purchasers of Easterly ROCMuni High Income Municipal Bond Fund f/k/a Principal Street High Income Municipal Fund (the "Easterly ROCMuni Fund") (NASDAQ:RMJAX, RMHVK, RMHIX)) shares between May 5, 2023 and June 12, 2025, inclusive (the "Class Period").
PLEASE CLICK HERE TO SUBMIT YOUR CONTACT INFORMATION
The Easterly ROCMuni class action lawsuit alleges that on June 13, 2025, the Easterly ROCMuni Fund abruptly marked down the value of Easterly ROCMuni Fund shares by 30%. The per share NAV of RMHIX was marked down from $6.15 per share the prior day to $4.33 per share; the per share NAV of RMHVX was marked down from $6.19 per share the prior day to $4.36 per share; and the per share NAV of RMJAX was marked down from $6.13 per share the prior day to $4.31 per share. The value of Easterly ROCMuni Fund shares continued to plummet in subsequent days, falling to less than $3 per share within a span of just two weeks. The total net assets of the Easterly ROCMuni Fund collapsed from over $230 million as of March 31, 2025 to less than $17 million as of July 8, 2025.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than September 22, 2025.
Why Wolf Haldenstein Adler Freeman & Herz LLP?:
This illustrious firm, founded in 1888, is steadfast in their pursuit of justice for investors who have suffered financial harm due to these misrepresented statements. The law firm brings to the fore over 125 years of legal expertise in securities litigation and has a proven track record of protecting the rights of investors.
We encourage all investors who have been affected or have information that will assist in our investigation, to contact Wolf Haldenstein Adler Freeman & Herz LLP.
Contact:
Firm Website: Wolf Haldenstein Adler Freeman & Herz LLP
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SOURCE Wolf Haldenstein Adler Freeman & Herz LLP