Easterly ROCMuni Lawsuit

Shepherd Smith Edwards and Kantas Continues To Investigate Easterly ROCMuni Lawsuit High Income Fund Losses

If Your Broker-Dealer Sold You Shares in This Speculative, Too Risky Fund, Contact Us Today

For investors who suffered portfolio losses because their accounts held Easterly ROCMuni High Income Fund (RMJAX, RMHIX, and RMVHX) shares, contact Shepherd Smith Edwards and Kantas (investorlawyers.com). This junk bond fund, misrepresented as a municipal bond fund, has been losing money over the past year. But it was a fire sale in June that led to its downfall. Many millions of dollars were lost. Once holding $300M in assets last October, it now has less than $25M in assets. Its share price has plunged to under $3/share, whereas a year ago it was at $7.35/share.

Most of the securities in this illiquid fund were either below investment grade, junk-rated, or unrated. At least 80% of its net assets are purportedly involved in tax exempt debt securities. To call it a municipal fund is deceptive as it is invested primarily in the debt of small corporate issuers and not solely in the debt of municipalities.

Now, many Easterly ROCMuni Fund investors have been left blindsided by their significant losses in what they were allegedly led to believe by their brokers was a safe, low-risk investment. If the brokerage firms that sold this investment to customers had conducted even the most basic investigation into this fund, they would have clearly seen that this was a high-risk junk bond.

Representing Easterly ROCMuni Investors Against Stifel, Osaic Wealth, and Others

Easterly Fund investors we have spoken to are alleging unsuitable investment recommendations, excessive concentration, negligence, gross negligence, misrepresentations and omissions, and more. Already, we are representing a number of Easterly ROCMuni High Income Fund investors in pursuing damages against Stifel, Nicolaus, and Co., Osaic Wealth, and other brokerage firms. We are also continuing to speak to other investors in exploring what legal options they may have in getting back their money from brokerage firms.

Many Easterly ROCMuni investors are from Kentucky. We are also representing Easterly Fund investors in other US states. This is not the type of securities case that you want to pursue without seasoned securities lawyers representing you.

The Easterly Fund was always unsuitable for retail investors and conservative retirees. Yet, the high commissions brokers could earn may have compelled some of them to ignore customers’ best interests and market this investment to them. While the fire sale may have taken place in June, this Fund was losing money way before then.

Contact Our Easterly ROCMuni Fund Fraud Attorneys Today

Because we work on a contingency basis, you will only pay for our services if we obtain your financial recovery. More than 90% of our clients have secured damages or a settlement award through our skilled and dedicated efforts. Shepherd Smith Edwards and Kantas genuinely cares about each investor we represent. We are committed to protecting their legal rights as we fight for their financial recovery.

Call (800 259-9010 or fill out this online form to schedule your free case consultation.