Investors in RMJAX, RMHIX, and RMHVX funds promoting Easterly ROCMuni High Income Municipal Bond Fund, who have suffered significant losses, offered the chance to head class-action lawsuit led by Bronstein, Gewirtz & Grossman LLC.
Class Action Lawsuit Filed Against Easterly ROCMuni High Income Municipal Bond Fund
A class action lawsuit has been filed against the Easterly ROCMuni High Income Municipal Bond Fund and certain of its officers. The lawsuit, led by the law firm Bronstein, Gewirtz & Grossman, LLC, alleges that the Fund and its officers violated federal securities laws.
The Class Period, as defined in the lawsuit, includes all persons and entities that purchased or otherwise acquired Easterly ROCMuni Fund securities during the specified dates. The Complaint alleges that the Fund's Offering Materials issued during the Class Period contained untrue statements of material fact, omitted necessary facts, and were not prepared in accordance with the rules and regulations governing their preparation.
According to the Complaint, the Fund's assets were more closely correlated and less diversified than disclosed, and it was more heavily invested in illiquid assets than stated. Furthermore, the Complaint alleges that the Fund had a flawed pricing and valuation methodology that systematically inflated its Net Asset Value (NAV) and individual asset valuations. The Complaint also states that the Fund had marked tens of millions of dollars' worth of its portfolio assets at artificially inflated prices.
As a result of these alleged violations, the Fund's stated NAV, NAV per share, individual asset valuations, and historical performance were materially overstated. The lawsuit seeks to recover damages for these alleged violations.
Representation for investors in the class action lawsuit against Easterly ROCMuni High Income Municipal Bond Fund is on a contingency fee basis. The law firm Bronstein, Gewirtz & Grossman, LLC, which filed the lawsuit, can be contacted at Peretz Bronstein or Nathan Miller at 332-239-2660 or via email at [email protected].
The firm, nationally recognized for representing investors in securities fraud class actions and shareholder derivative suits, has recovered hundreds of millions of dollars for investors nationwide. Updates on the Easterly ROCMuni High Income Municipal Bond Fund class action lawsuit can be followed on LinkedIn, Facebook, or Instagram.
It is important to note that prior results do not guarantee similar outcomes in the Easterly ROCMuni High Income Municipal Bond Fund class action lawsuit. The Fund was also subject to a material undisclosed risk of a sudden collapse in the price of Fund shares.
Investors who purchased or otherwise acquired Easterly ROCMuni Fund securities during the Class Period are encouraged to contact the law firm Bronstein, Gewirtz & Grossman, LLC for more information about the class action lawsuit.
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