SSEK Easterly ROCMuni Fraud Attorneys

Our Broker Fraud Law Firm Is Representing This Claimant In FINRA Arbitration

A Brooklyn widow in her eighties is suing Osaic Wealth for up to $500,000 in damages for losses she suffered in the Easterly ROCMuni High Income Fund (RMJAX, RMHIX, and RMVHX). Shepherd Smith Edwards and Kantas (investorlawyers.com) is representing this New York Claimant. We are also representing other investors against the broker-dealers that unsuitably recommended this high-risk, speculative investment.

This Claimant had an account with Osaic that was supposed to provide for her income each month. Unfortunately, by the end of May 2025, her Osaic Wealth broker Sergio Kindler had concentrated two-thirds of her account into the Easterly ROCMuni Fund.

A few weeks later, the Easterly Fund lost more than half of its value within a few days, leaving it with a per-share price of about $3.00. This Claimant lost more than 35% of her money in her account.

This was an inexperienced, elderly investor who should never have been exposed to this illiquid junk bond. In her Easterly ROCMuni High Income Fund loss lawsuit, our client is alleging unsuitability, misrepresentations and omissions, overconcentration, breach of fiduciary duty, negligence, gross negligence, Regulation Best Interest violations, unjust enrichment, and more.

Kindler, who was her broker for many years, is the one who recommended this Fund. Our Client is alleging that he misrepresented the Easterly Fund as a municipal bond fund that would earn her more income, but did not describe its features or discuss the additional risks. This investor contends that she was not given a heads-up by her Osaic financial advisor that he planned to completely restructure the account so that the majority of her money would end up in this single junk bond.

According to Sergio Kindler’s CRD, he has been a broker for 36 years. Previous to becoming an Osaic Wealth registered representative, he was an LPL Financial stockbroker from 2018-2022.

The Easterly ROCMuni Fund Was Losing Money For Almost A Year

The Easterly Fund had been on a downward spiral since it was taken over by Easterly Asset Management in October 2024. Its share price, then at roughly $7.35/share, continued to decline even though there were no corresponding events in the Municipal bond market. Holding $300M in assets almost a year ago, that dropped to under $25Mafter the June 2025 fire sale.

Given that most of the securities in Easterly ROCMuni were rated under investment grade, unrated, or junk-rated, this Fund appears to have been misrepresented as a municipal bond fund when it was, in fact, a junk bond fund.

Representing Easterly ROCMuni High Income Fund Investors In Their Six- and Seven-Figure Lawsuits

Shepherd Smith Edwards and Kantas Easterly ROCMuni Fraud Attorneys are representing a number of Easterly ROCMuni Fund investors against the brokerage firms that unsuitably marketed and sold this junk bond to customers. In addition to Osaic Wealth and Stifel, Nicolaus, & Co., which is a Respondent in many of the Easterly Fund investment loss recovery claims we have filed, we are investigating Janney Montgomery Scott and other broker-dealers.

Contact Our Easterly ROCMuni Fraud Attorneys Today

You want to be part of a unit of Easterly ROCMuni High Income Fund fraud lawsuits represented by a trusted securities law firm that has the skills, resources, and knowledge to maximize your chances for a full recovery. Call (800) 259-9010 or fill out this online form.