Illinois Couple Files Six-Figure Easterly ROCMuni High Income Fund Lawsuit Against Stifel
Shepherd Smith Edwards and Kantas Is Representing These Claimants in FINRA Arbitration
A semi-retired couple in their sixties is suing Stifel, Nicolaus & Co. for up to $500,000 over investment losses they sustained in the Easterly ROCMuni High Income Fund (RMJAX, RMHIX, and RMVHX). These investors worked with Stifel broker John Eric Suess, who is not a respondent in this securities fraud lawsuit.
Shepherd Smith Edwards and Kantas (investorlawyers.com) is representing these claimants and many others who sustained losses in this junk bond fund against Stifel, Osaic Wealth, and other broker-dealers. Contact us today if you are also invested in the Easterly Fund.
The Easterly ROCMuni Fund is an illiquid, speculative investment that was unsuitably recommended to many investors who thought this was a more stable municipal bond fund. It was to their detriment when the Easterly Fund plunged by more than half its value, losing many millions of dollars within a few days in June 2025.
In this Easterly ROCMuni High Income Fund loss lawsuit, our Claimants are alleging overconcentration in this too risky investment, its unsuitable recommendation given that this couple wanted moderate risk investments, misrepresentations and omissions, breach of fiduciary, and other wrongs.
More About The Easterly ROCMuni Fund
This is a tax-free bond fund that purportedly invests most of its net assets in tax-exempt debt securities that were mostly debt securities with a less-than-investment-grade rating. This makes the Easterly Fund more of a “junk bond fund” misrepresenting itself as a municipal fund—especially as it was invested mostly in the debt of small company issuers and wasn’t solely involved in state and local government debt.
We believe that if the Respondent had conducted the proper due diligence and understood the true makeup of this Fund, the brokerage firm would not have recommended and sold it to customers. At the very least, it surely would have apprised customers of the risks. Not only that, but the Easterly Fund had been declining in value throughout the past year.
Instead, our Clients were blindsided by their portfolio losses. Once holding more than $200M in assets, the Easterly Fund now has under $25M in assets. Its share price is under $3.00/share.
Why Join Our Unit of Easterly ROCMuni Fund Lawsuits?
Pursuing damages from a brokerage firm is never easy. You want to work with a seasoned securities law firm that knows how to maximize your chances for a full financial recovery. Shepherd Smith Edwards and Kantas has been fighting for investors against broker-dealers and investment advisers for decades.
Because we are representing many Easterly ROCMuni investors against Stifel and other broker-dealers, if we decide to work together, you would join our unit of claims that would be represented by our entire securities law firm.
Trust us when we say that it is important that you retain Easterly ROCMuni fund loss lawyers who are experienced in why this investment failed and the role that broker-dealers played in causing investors to suffer significant losses. As one of our clients, you would be able to avail of all of our resources and investigative efforts, which can only strengthen your case.
Shepherd Smith Edwards and Kantas Easterly ROCMuni High Income Fund Fraud Attorneys have successfully gone up against many of the biggest brokerage firms in the United States on behalf of investors who have suffered losses due to broker misconduct or negligence. More than 90% of our clients have secured full or partial financial recovery.
Contact Our Easterly ROCMuni High Income Fund Fraud Attorneys
Call (800) 259-9010 or fill out this form to schedule your free initial case consultation.