Osaic Wealth and Stifel Nicolaus Under Scrutiny After Muni Bond Fund Blow-Up

Easterly ROCMuni High Income Municipal Bond Fund (RMHIX): What Happened?

In early June 2025, the Easterly ROCMuni High Income Municipal Bond Fund (ticker: RMHIX) suffered a dramatic collapse—its net asset value plunged nearly 50%, dropping to roughly $2.95 per share. The dramatic decline in its price could largely be due to the fact that this bond fund had over 80% of its holdings in below investment grade bonds, often referred to as “junk bonds”, according to a March 2025 fact sheet about the Easterly ROCMuni High Income Bond Fund. It has further been alleged that although the Easterly Fund was presented as a municipal bond fund mostly holding tax-exempt securities, which is simply not accurate.

A recent class action complaint alleged that the Fund had assets at artificially inflated prices that did not reasonably reflect the fair value of those assets. As a result, the Fund’s holdings were materially overstated. This could be a problem, and investors who suffered losses should contact the securities law firm of Israels & Neuman immediately, as time is of the essence.

The securities and investment fraud law firm of Israels & Neuman, PLC is looking into potential sales of this product by two broker-dealer firms—Osaic Wealth and Stifel Nicolaus & Co. We are interested in discussing sales practices, concentrations and recommendations with investors.

Allegedly, an 84-year-old widow, guided by an Osaic financial advisor on Long Island, was advised to invest in the Easterly Fund in May—just days before it collapsed, causing her to lose approximately 35% of her savings.

RMHIX Investors: You Have Rights.

If you or someone you know were advised by Osaic Wealth, Stifel Nicolaus or any other brokerage firm, to invest in the Easterly ROCMuni High Income Municipal Bond Fund or RMHIX, and you’ve suffered losses as a result, you may have legal options. Investors have rights, and it’s important to explore them as soon as possible before statutes of limitation pass.

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