NEW YORK, Aug. 17, 2025 (GLOBE NEWSWIRE) -- Pomerantz LLP announces that a class action lawsuit has been filed on behalf of investors in Easterly ROCMuni High Income Municipal Bond Fund f/k/a Principal Street High Income Municipal Fund (“the Fund” or the “Company”) (NASDAQ: RMHIX; RMHVX; RMJAX). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.
The class action concerns potential violations of the federal securities laws or other unlawful business practices.
You have until September 22, 2025, to ask the Court to appoint you as Lead Plaintiff for the class if you purchased or otherwise acquired the Fund securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com.
[Click here for information about joining the class action]
A complaint has been filed alleging that the investment companies, investment advisers, underwriters, and individuals responsible for the Fund’s investment activities and management, as well as the distribution of its shares, issued and distributed documents in connection with the continuous offering of shares of the Fund (the “Offering Materials”) which contained untrue statements of material facts, omitted to state other facts necessary to make the statements made not misleading, and were not prepared in accordance with the rules and regulations governing their preparation—specifically, that: (a) 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; (b) the Fund had implemented a fundamentally flawed pricing and valuation methodology which had systematically inflated the Fund’s NAV and individual asset valuations; (c) the Fund was more heavily invested in illiquid assets than disclosed in the Offering Materials; (d) the Fund’s assets were more closely correlated and less diversified than disclosed in the Offering Materials; (e) consequently, the Fund’s stated NAV, NAV per share, individual asset valuations, and historical performance were materially overstated; and (f) as a result of, the Fund was subject to a material undisclosed risk of a sudden collapse in the price of Fund shares.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
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CONTACT:
Danielle Peyton
Pomerantz LLP
dpeyton@pomlaw.com
646-581-9980 ext. 7980
