Rosen Law Firm, a global investor rights law firm, announces that an investor filed a class action lawsuit on behalf of purchasers of shares of the Easterly ROCMuni High Income Municipal Bond Fund f/k/a Principal Street High Income Municipal Fund (the “Fund”) (tickers: RMJAX, RMHVX, RMHIX), between May 5, 2023 and June 12, 2025, inclusive (the “Class Period”). The Fund is a mutual fund within defendant James Alpha Funds Trust’s (which does business as Easterly Funds Trust) series of mutual funds.

For more information, submit a form, email attorney Phillip Kim, or give us a call at 866-767-3653.

The Allegations: Rosen Law Firm is Investigating the Allegations that Easterly Funds Trust Misled Investors Regarding its Business Operations.

According to the lawsuit, throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) the Easterly ROCMuni Fund had marked tens of millions of dollars’ worth of its portfolio assets at artificially inflated prices that did not reasonably reflect the fair value of those assets; (2) the Easterly ROCMuni Fund had implemented a fundamentally flawed pricing and valuation methodology which had systematically inflated the Easterly ROCMuni Fund’s NAV and individual asset valuations; (3) the Easterly ROCMuni Fund was more heavily invested in illiquid assets than disclosed in its Offering Materials; (4) the Easterly ROCMuni Fund’s assets were more closely correlated and less diversified than disclosed in its Offering Materials; (5) as a result, the Easterly ROCMuni Fund’s stated NAV, NAV per share, individual asset valuations, and historical performance were materially overstated; and (6) consequently, the Easterly ROCMuni Fund was subject to a material undisclosed risk of a sudden collapse in the price of Easterly ROCMuni Fund shares.

What Now: You may be eligible to participate in the class action against Easterly Funds Trust. Shareholders who want to serve as lead plaintiff for the class must file their motions with the court by September 22, 2025. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here.

All representation is on a contingency fee basis. Shareholders pay no fees or expenses.

About Rosen Law Firm: Some law firms issuing releases about this matter do not actually litigate securities class actions. Rosen Law Firm does. Rosen Law Firm is a recognized leader in shareholder rights litigation, dedicated to helping shareholders recover losses, improving corporate governance structures, and holding company executives accountable for their wrongdoing. Since its inception, Rosen Law Firm has obtained over $1 billion for shareholders.

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