Municipal Bond Fraud Lawyers

Denver, CO Retiree Sues Stifel, Nicolaus & Co Over Easterly ROCMuni  High Income Fund Losses. Our Municipal Bond Fraud Lawyers Are Representing Investors Against This Broker-Dealer

A Colorado retiree is suing Stifel, Nicolaus & Co. for up to $500K over losses he sustained in Easterly ROCMuni High Income Fund (RMJAX, RMHIX, and RMVHX), which was formerly Principal Street High Income Fund. The claimant, who is an elderly individual, contends that his account was overconcentrated with the  Easterly Fund.

He is alleging unsuitability, misrepresentations and omissions, unsuitable investment recommendations, negligence, gross negligence, breach of fiduciary duty, breach of contract, failure to supervise, and more. Shepherd Smith Edwards and Kantas Municipal Bond Fraud Lawyers (investorlawyers.com) are representing this investor and others in their FINRA lawsuits against Stifel and the other brokerage firms that sold this fund.

Easterly ROCMuni  High Income Fund Is More Junk Bond Than Muni Bond

The Easterly Fund purportedly invested at least 80% of its net assets in tax-exempt debt securities, with a majority of those debt securities rated below investment grade. It presents itself as a municipal bond when it is closer to a junk bond.

Most of the securities owned by the Easterly ROCMuni High Income Fund were debts from small corporations, such as Gladieux Metals Recycling, as opposed to debt obligations from municipalities. Easterly Fund also bought bonds from private projects that came from issuers with little to no financial history.

The Easterly Fund has been on a downward spiral since last year. Its cataclysmic fall occurred in June 2025 when it lost 30% of its value on June 13. Following that, through June 17, the Fund fell by over 50%. The Easterly Fund went from having over $200M in assets to under $25M.

This investor, our client, worked with Stifel broker Timothy Darragh, who has been a registered representative for 36 years. Tim Darragh’s CRD shows at least one other customer dispute that was filed earlier this year. Those claimants are alleging negligence, unjust enrichment, breach of fiduciary duty, and more.

Why Speak With Our Easterly ROCMuni  Municipal Bond Fraud Lawyers? 

Shepherd Smith Edwards and Kantas Municipal Bond Fraud Lawyers have been investigating this fund for some time now, as well as looking into the broker-dealers that marketed and sold Easterly ROCMuni High Income Fund to their customers.

The Easterly ROCMuni  High Income Fund investors who have come forward to talk to us claim they were never fully apprised of the risks. They may have been misled into believing this was a safe investment that has since proven otherwise.

You want to work with trusted bond fund lawyers who know how to fight for your right to financial recovery. We have represented investors regarding over 1000 matters, and more than 90% of our clients have received full or partial financial recovery.

Contact Our Muni Municipal Bond Fraud Lawyers To Request Your Free Case Consultation:

We are well-versed in how Easterly ROCMuni  High Income Fund failed and why the broker-dealers that sold them should be held liable for damages. Call (800) 259-9010 or fill out this online form.