Federal Court Preserves Only Limited Easterly ROCMuni Claims, as Haselkorn & Thibaut Continues Investor Investigation

Court allows only certain investor claims to proceed in the Easterly ROCMuni class action.

NEW YORK CITY, NY, UNITED STATES, August 19, 2026 /EINPresswire.com/ -- Haselkorn & Thibaut, P.A., a national law firm representing investors in securities-arbitration and investment loss matters, continues its nationwide investigation on behalf of investors who suffered losses in the Easterly ROCMuni High Income Municipal Bond Fund (the “Fund”). (FINRA case #25-01712)

The Fund is in liquidation and is not accepting new purchases. As of December 30, 2025, the Fund reported approximately $8.8 million in net assets and an Institutional Class NAV of $2.18. The Fund’s board previously approved a plan of liquidation and dissolution, which contemplates the orderly disposition of remaining assets, including illiquid investments, subject to unpaid and contingent liabilities.

Federal Court Preserves Certain Claims

A federal securities class action remains pending in the U.S. District Court for the Southern District of New York: In re Easterly ROCMuni High Income Municipal Bond Fund, No. 1:25-cv-06028.

On August 17, 2026, U.S. District Judge Denise Cote issued a ruling that largely granted defendants’ motion to dismiss the investors’ operative complaint but preserved certain claims concerning the Fund’s alleged exposure to illiquid investments.

According to reporting on the decision, the Court found that the complaint plausibly alleged that statements in the Fund’s registration materials were false or misleading regarding a representation that the Fund would not hold more than 15% of its net assets in illiquid investments. The investors identified specific securities that allegedly caused the Fund’s illiquid-investment holdings to exceed that threshold.

The Court also allowed allegations concerning disclosures of defaulted portfolio holdings to proceed, while otherwise dismissing other claims. The investors allege that the Fund disclosed some securities as in default in its 2024 semiannual and annual financial statements while failing to identify other allegedly defaulted holdings. The Court concluded that the alleged underreporting of distressed-asset exposure could be materially misleading to reasonable investors.

The Court dismissed other challenged categories of statements, including certain claims involving valuation practices, the Fund’s alleged strategy regarding the acquisition of already-defaulted securities, and alleged investments in related businesses. The Court also dismissed control-person liability claims against certain portfolio-manager and investment-adviser defendants.

The ruling does not resolve the merits of the surviving claims or establish liability by any defendant. The remaining claims will continue through the litigation process.

Investigation of Brokerage-Firm Recommendations

Haselkorn & Thibaut is separately investigating whether brokerage firms and financial professionals adequately identified or evaluated the risks of the Fund before recommending it to investor clients.

The Fund was marketed as a high-income municipal-bond investment. However, its portfolio characteristics, liquidity profile, credit quality, valuation risks, and concentration in higher-risk securities may have made it unsuitable or inappropriate for some investors—particularly retirees, conservative investors, and individuals seeking stable, tax-advantaged income or preservation of principal.

The firm is reviewing whether brokers or financial advisors may have:

• Recommended the Fund to investors with conservative objectives or a limited tolerance for risk;
• Failed to adequately disclose risks associated with illiquid, distressed, unrated, or below-investment-grade securities;
• Concentrated a client’s account excessively in the Fund or similar high-risk municipal investments;
• Mischaracterized the Fund as a stable or diversified income investment; or
• Failed to conduct appropriate due diligence before recommending the Fund.

Public reporting has indicated that investors have pursued, or are preparing to pursue, FINRA arbitration claims involving brokerage firms that recommended the Fund. A FINRA arbitration claim is distinct from the pending federal class action and may be based on the specific facts of an investor’s account, including the recommendation made, the investor’s stated objectives, risk tolerance, investment concentration, and disclosures received.

Investors May Have Individual Recovery Options

Investors who sustained losses in the Easterly ROCMuni High Income Municipal Bond Fund may have legal options beyond the pending class action. Depending on the facts of the individual account, an investor may be able to pursue a FINRA arbitration claim against the brokerage firm or financial professional that recommended the investment.

Affected investors are encouraged to preserve relevant records, including:

• Account statements and trade confirmations;
• Emails, text messages, and notes from communications with financial professionals;
• Prospectuses, fund reports, fact sheets, marketing materials, and investment proposals; and
• Documents reflecting investment objectives, income needs, time horizon, and risk tolerance.

Free Confidential Consultation

Haselkorn & Thibaut, P.A. is offering free and confidential consultations to investors who incurred losses in the Easterly ROCMuni High Income Municipal Bond Fund. To speak with an attorney, call 1-888-784-3315 or visit InvestmentFraudLawyers.com.

About Haselkorn & Thibaut, P.A.

Office Locations:

Florida: 790 Juno Ocean Walk, Suite 501-C, Juno Beach, FL 33408 — (561) 556-2203
New York: 125 Park Avenue, 25th Floor, New York, NY 10017 — (332) 286-4055
Arizona: 4742 North 24th Street, Suite 300, Phoenix, AZ 85016 — (623) 244-6902
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North Carolina: 1903 North Harrison Avenue, Suite 200, Cary, NC 27513 — (984) 422-3645

Haselkorn & Thibaut, P.A. represents investors in disputes involving brokerage firms, financial advisors, and investment professionals. The firm handles investor claims through FINRA arbitration, mediation, and litigation.

Disclaimer: This press release is for informational purposes only and does not constitute legal advice. The investigation concerns potential claims against brokerage firms, financial advisors, and other potentially responsible parties based on individual facts and circumstances. The pending class action or federal court matter contains allegations that have not been proven, and the court’s ruling does not establish liability. Past results do not guarantee future outcomes.

Matthew Thibaut
Haselkorn & Thibaut, P.A.
+1 888-885-7162
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