Zamansky LLC advises investors in Easterly ROCMuni High Income Municipal Bond Fund about potential claims
News provided byEasterly ROCMuni Fund · 1 min read
NEW YORK, Sept. 3, 2026 /CourierPR/ -- Zamansky LLC has advised investors who lost money in the Easterly ROCMuni High Income Municipal Bond Fund that they may have grounds to pursue claims against the brokerage firms and financial advisors who sold them the fund. The firm's alert comes in the wake of a federal court ruling that dismissed some claims but allowed certain Securities Act claims to proceed, including allegations of misrepresentation regarding the fund's risk profile.
The Easterly ROCMuni High Income Municipal Bond Fund, with ticker symbols RMJAX (Class A), RMHVX (Investor Class), and RMHIX (Class I), faced significant losses starting on June 20, 2025. By August 17, 2026, the fund's assets under management had plummeted, and the Fund initiated a liquidation process. The U.S. District Court for the Southern District of New York, presided over by Judge Denise Cote, issued an opinion and order in the related litigation, permitting some Securities Act claims to move forward.
According to Zamansky LLC, financial advisors marketed the Easterly Fund as a conservative municipal bond fund, despite the fund's investments in high-yield, unrated, distressed, and illiquid securities. This misrepresentation is said to have left many investors unaware of the significant risks involved.
Jake Zamansky, a securities attorney and the founder of Zamansky LLC, commented, "It is concerning that investors were led to believe they were purchasing a relatively conservative municipal bond fund when the fund had risk factors commonly associated with more aggressive investments. Brokerage firms and financial advisors have a duty to inform investors about the risks and suitability of their investments."
Investors who purchased shares of RMJAX, RMHVX, or RMHIX from a brokerage firm or financial advisor may have the right to seek recovery through FINRA arbitration. The claims could include unsuitable investments, misrepresentations or omissions, and failures to supervise. Zamansky LLC specifically highlights brokerage firms Janney Montgomery Scott, Stifel Nicholas, OSAIC Wealth, and National Financial Services LLC as potential defendants.