Western Kentucky Investor Sues Stifel, Nicolaus & Co. Over Easterly ROCMuni High Income Fund Losses. Our Bond Fund Loss Lawyers Are Representing This Claimant in His Six-Figure FINRA Lawsuit
Shepherd Smith Edwards and Kantas (investorlawyers.com) is representing yet another Easterly ROCMuni High Income Fund (RMJAX, RMHIX, and RMVHX) investor who worked with Stifel, Nicolaus & Co. broker Adam Michael Chustz. This Western Kentucky investor is now suing Stifel for up to $500K in damages.
This FINRA lawsuit against the broker-dealer revolves around allegations that Chustz unsuitably concentrated this Claimant’s account with the Easterly ROCMuni Fund. This is a highly speculative fund that lost more than half of its value in a few days during a June 2025 fire sale.
Not only that, but the Easterly Fund is not a municipal bond fund as it was presented. It is a junk bond fund with high-risk, illiquid, poorly rated investments. Now, after the spectacular fall, its share price is at less than $3/share. That is down from $6.35/share in early June.
This investor was supposed to be placed in conservative-to-moderate risk investments so as to protect his savings. While Stifel liquidated his investment in the Easterly Fund before its complete collapse, this did not prevent our client from unexpectedly losing 30% of the investment. All of this happened at a time when the market was doing very well, which makes his loss all the more unjustifiable.
Stifel broker Adam Chustz knew this investor socially, and he was the one who persuaded the Claimant to allow him to become his financial advisor. The Easterly Fund losses occurred not long after they started working together, but it wasn’t until our Client broached the subject with Chustz in September that this Stifel broker disclosed his losses in The Easterly Fund.
This Western Kentucky investor is not the only one to whom Chustz appears to have unsuitably recommended The Easterly ROC Muni Fund. We are representing a number of them in their FINRA lawsuits against Stifel.
Adam Chustz’s BrokerCheck CRD lists four Customer Disputes by his former clients that have been filed since July 2025. The Claimants are collectively seeking more than $5,700,000 in damages. Based out of Paducah, Kentucky, Chustz has worked for 25 years in the brokerage industry.
Why Hire Our Easterly ROCMuni Fund Loss Lawyers?
Shepherd Smith Edwards and Kantas is representing investors against Stifel and the other brokerage firms that sold this Easterly Fund, which was losing value way before the June fire sale. Our Clients are looking at substantial losses that could have been avoided, we believe, if not for the unsuitable recommendation of this junk fund and the mishandling of their investment accounts by broker-dealers.
Even if the firm was unaware of their broker’s allegedly negligent or wrongful actions involving this Fund, you still may be able to hold them liable.
If we decide to work together, you will become part of our unit of Easterly ROCMuni Fund fraud lawsuits represented by our entire securities law firm. Retaining bond fraud attorneys that are well-versed in the product that led to your losses can only benefit you. Because we work on a contingency basis, you will only pay for our legal services if we secure your financial recovery.
Contact Our Easterly ROCMuni Fund Recovery Law Firm Today
Call (800) 259-9010 or contact us online to schedule your free initial case consultation.