Easterly ROCMuni Fund's Steep Decline Spurs Potential Investor Lawsuits
From the desk of Jim Eccleston at ÍøÆØ³Ô¹Ï
The Easterly ROCMuni High Income Municipal Bond Fund (RMHIX) has suffered a dramatic collapse, losing nearly half its value in June and now trading at a net asset value (NAV) of $2.95 per share. According to InvestmentNews, year-to-date, the fund is down 56.3 percent, with most losses occurring over a few days in mid-June.
Attorneys are now investigating potential claims against broker-dealers that recommended the fund, including Osaic ÍøÆØ³Ô¹Ïalth and Stifel Nicolaus & Co. Those with questions or information should contact our attorneys.
Osaic did not respond to requests for comment. Stifel, however, issued a statement acknowledging investor concerns about the fund’s performance and management, noting that it has formally requested—but not received—details from Easterly on how its management led to such substantial losses.
ÍøÆØ³Ô¹Ï LLC represents investors and financial advisors nationwide in securities, employment, transition, regulatory, and disciplinary matters.
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