Easterly ROCMuni Fund Investor Lawyers

Easterly ROCMuni Fund Investor in Paducah, KY, Who Worked With Stifel Broker Adam Chustz, Sues Stifel, Nicolaus & Co. For Up To $5,000,000

Shepherd Smith Edwards and Kantas Is Representing This Claimant and Many Other Easterly Fund Investors

Our seasoned securities law firm is representing another former customer of Stifel, Nicolaus & Co. (“Stifel”) broker Adam Michael Chustz (“Chustz”) over massive losses sustained in the Easterly ROCMuni High Income Fund (RMJAX, RMHIX, and RMVHX). The claimant, an elderly widow with little investing experience, is suing the broker-dealer for up to $5,000,000 in damages in FINRA arbitration.

Adam Chustz, a longtime Kentucky financial advisor who managed our client’s money, is not a Respondent in this investment loss recovery claim. However, our investment loss attorneys have been told that as many as 100 of Chustz’s customers were sold the Easterly ROCMuni Fund, which suffered a massive collapse in June 2025. A number of these individuals are already our clients.

Contact Shepherd Smith Edwards and Kantas (investorlawyers.com) today if you sustained losses in the Easterly ROCMuni Fund or any other misrepresented investment.

Kentucky Retiree Suffers Massive Loss in Illiquid, Speculative Junk Bond

In our recently filed Easterly ROCMuni High Income Fund loss lawsuit, our client is a Paducah senior investor who is alleging unsuitable recommendations, breach of fiduciary duty, misrepresentations, omissions, over-concentration, negligence, gross negligence, Regulation Best Interest violations, and more. As alleged in the claim, this elderly investor entrusted Stifel to manage her money, only to find out too late that her broker had concentrated her accounts into the Easterly ROCMuni Fund. This investment has proven to be more of a speculative, high-risk junk bond fund than a municipal bond fund, as it was misrepresented to most investors.

While Chustz liquidated our client’s account on the day of the first Easterly ROCMuni Fund’s big drop, he did not consult with her or get approval, even though he did not have discretionary authority over the account. Our client’s losses in this Fund—30% of what Stifel invested on her behalf— were avoidable and completely unjustifiable.

Easterly ROCMuni Fund Collapses To Lose Many Millions of Dollars

The Easterly ROCMuni Fund purportedly invested at least 80% of its net assets in tax-exempt debt securities. Most of these securities were rated below investment grade or unrated because they were such poor investments. Many of the investments in the Easterly ROCMuni Fund were junk-rated bonds from private projects that had no financial history to support issuance and were problematic in other ways.

Since last year, the Easterly ROCMuni Fund had been losing value even though the municipal bond market was actually going up in value. Holding roughly $300,000,000 in assets at $7.35/share in October 2024, the fund collapsed spectacularly in just a few days in June, ending up with less than $25,000,000 in assets and a $3.00 share price.

Customers of Stifel Broker Claim They Were Blindsided

Many Easterly ROCMuni Fund investors experienced serious portfolio losses in the six- and seven-figures. Former clients of Chustz say they had no idea about the high level of risk they were taking on or that their investments were in trouble.

If you are an Easterly ROCMuni Fund investor who worked with Adam Chustz, another Stifel broker, or a financial advisor at a different brokerage firm, we can help you assess the cause of your losses and determine whether you have grounds for pursuing damages.

Contact Our Easterly ROCMuni Fund Investor Lawyers:

You want to work with a trusted securities law firm. Shepherd Smith Edwards & Kantas has been fighting for investors like you against the big broker-dealers for over three decades. The majority of our clients have secured an award or settlement in arbitration, mediation, or litigation.

Your first consultation is a free case assessment. In Kentucky, call (866) 931-7628. Throughout the US you can reach us at (800) 259-9010. You can also reach out to us through this online contact form.