Securities Fraud Investigation Into Easterly ROCMuni High Income Municipal Bond Fund (RMHIC, RMHVX, RMJAX) Announced – Investors Who Lost Money Urged To Contact Glancy Prongay & Murray LLP, a Leading

Business Wire

3 days ago

LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP, a leading national shareholder rights law firm, today announced that it has commenced an investigation on behalf of Easterly ROCMuni High Income Municipal Bond Fund f/k/a Principal Street High Income Municipal Fund ('Easterly' or the 'Fund') (NASDAQ: RMHIX, RMHVX, RMJAX) investors concerning the Fund's possible violations of the federal securities laws.
IF YOU ARE AN INVESTOR WHO LOST MONEY ON EASTERLY ROCMUNI HIGH INCOME MUNICIPAL BOND FUND (RMHIC, RMHVX, RMJAX), CLICK HERE TO INQUIRE ABOUT POTENTIALLY PURSUING CLAIMS TO RECOVER YOUR LOSS.
What Happened?
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.
Contact Us To Participate or Learn More:
If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us.
Charles Linehan, Esq.
Glancy Prongay & Murray LLP
1925 Century Park East, Suite 2100
Los Angeles California 90067
Email: [e-mail]
Telephone: [phone] (Toll-Free: 888-773-9224)
Visit our website at www.glancylaw.com.
Follow us for updates on LinkedIn, Twitter, or Facebook.
Whistleblower Notice
Persons with non-public information regarding Easterly should consider their options to aid the investigation or take advantage of the SEC Whistleblower Program. Under the program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Charles H. Linehan at 310-201-9150 or 888-773-9224 or email [e-mail].
About Glancy Prongay & Murray LLP
Glancy Prongay & Murray LLP ('GPM') is a premier law firm representing investors and consumers in securities litigation and other complex class action litigation. GPM has been consistently ranked in the Top 50 Securities Class Action Settlements by ISS Securities Class Action Services. In 2018, GPM was ranked a top five law firm in number of securities class action settlements, and a top six law firm for total dollar size of settlements.
With four offices across the country, GPM's nearly 40 attorneys have won groundbreaking rulings and recovered billions of dollars for investors and consumers in securities, antitrust, consumer, and employment class actions. GPM's lawyers have handled cases covering a wide spectrum of corporate misconduct and relating to nearly all industries and sectors. GPM's past successes have been widely covered by leading news and industry publications such as The Wall Street Journal, The Financial Times, Bloomberg Businessweek, Reuters, the Associated Press, Barron's, Investor's Business Daily, Forbes, and Money.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.