Easterly ROCMuni High Income Municipal Bond Fund f/k/a Principal Street High Income Municipal Fund Investors: Please contact the Portnoy Law Firm to recover your losses. September 22, 2025 Deadline to file Lead Plaintiff Motion.

Investors can contact the law firm at no cost to learn more about recovering their losses

LOS ANGELES, Sept. 05, 2025 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Easterly ROCMuni High Income Municipal Bond Fund f/k/a Principal Street High Income Municipal Fund ("Easterly ROCMuni" or the "Company") (NYSE: RMJAX; RMHVX; RMHIX) investors of a class action representing investors that bought securities between May 5, 2023 and June 12, 2025, inclusive (the "Class Period"). Easterly ROCMuni investors have until September 22, 2025 to file a lead plaintiff motion.

Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.

CASE ALLEGATIONS: The Easterly ROCMuni Fund, a mutual fund launched in September 2017, is subject to a comprehensive regulatory framework designed to protect investors. According to its “Fact Sheet,” the Easterly ROCMuni Fund “[s]eeks to provide long-term, yield-driven total return relying mostly on fundamental credit analysis by building a diversified high-yield portfolio focusing on overlooked and under-appreciated sectors of the high-yield municipal bond market.” Unlike stocks, which trade on an exchange, mutual fund shares must be priced daily based on net asset value (“NAV”).

The Easterly ROCMuni class action lawsuit alleges that defendants made false and/or misleading statements and failed to disclose that: (i) the Fund marked tens of millions of dollars’ worth of portfolio assets at artificially inflated prices; (ii) it employed a flawed pricing and valuation methodology that systematically overstated NAV and asset values; (iii) it held significantly more illiquid assets than disclosed; (iv) its assets were more closely correlated and less diversified than represented; (v) as a result, its NAV, NAV per share, asset valuations, and reported performance were materially overstated; and (vi) the Fund faced an undisclosed, material risk of a sudden collapse in share value.

The complaint further alleges that on June 13, 2025, the Easterly ROCMuni Fund abruptly marked down its shares by 30%. The per-share NAV of RMHIX fell from $6.15 to $4.33, RMHVX from $6.19 to $4.36, and RMJAX from $6.13 to $4.31. Shares continued to plunge, dropping below $3 within two weeks. The Fund’s total net assets collapsed from over $230 million as of March 31, 2025 to less than $17 million by July 8, 2025.

Please visit our website to review more information and submit your transaction information.

The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.

Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com

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