HOUSTON, July 24, 2025 -- Shepherd Smith Edwards and Kantas Bond Loss Lawyers (investorlawyers.com) is investigating portfolio losses involving Easterly ROCMuni High Income Municipal Bond Fund (RMJAX, RMHIX and RMHVX). This municipal junk bond fund, which has lost many millions of dollars, was sold to investors by brokerage firms, including Janney Montgomery Scott, Osaic, and Stifel Nicholas, among many others.
In June 2025, this High-Yield Municipal fund lost nearly 50% of its value in one day. Incredibly, the fund went from having $232 million in investments at the end of March to now less than $17 million.
The large losses, most of which happened on June 13, 2025, allegedly happened after a fire sale initiated by the Easterly ROCMuni High Income Municipal Bond Fund on that day. The fund's year-to-date performance declined to -57.34%.
Allegedly, over 50% of this municipal junk bond was invested in small issuance bonds issued by corporations, not municipalities, many of which were privately placed illiquid securities. A huge percentage was also in junk bonds rated D to BB-plus or unrated entirely.
When Easterly ROCMuni High Income Municipal Bond Fund started selling a lot of its holdings in June, buyers took advantage of the bond bargains. The Fund's NAV dropped from $6.36 at the start of the month to $3.09 by June 23, 2025, and is now showing a value of only $2.92.
This type of fire sale is a rare occurrence that has left Easterly ROCMuni High Income Municipal Bond Fund investors blindsided by their losses. Not only that, but this high-yield fund was risky from the get-go and an unsuitable recommendation for many investors.
Most of the investors who have contacted our firm are now saying they were not properly apprised of the risks, which could be legal grounds for a misrepresentation and omission claim.
What Can Our Bond Loss Lawyers Do For You?
At Shepherd Smith Edwards and Kantas, our Bond Loss Lawyers are looking into individual claims of losses in the Easterly ROCMuni High Income Municipal Bond Fund involving broker-dealers. We're also investigating a class action to be filed against the Fund itself, Easterly Funds, and others.
It is important that you contact us today so we can explore your legal options during a free, initial case assessment.
Call (800) 259-9010, email sedwards@sseklaw.com or fill out this form.
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