According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that:
- 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;
- 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;
- the Easterly ROCMuni Fund was more heavily invested in illiquid assets than disclosed in its Offering Materials;
- the Easterly ROCMuni Fund’s assets were more closely correlated and less diversified than disclosed in its Offering Materials;
- as a result, the Easterly ROCMuni Fund’s stated NAV, NAV per share, individual asset valuations, and historical performance were materially overstated; and
- consequently, the Easterly ROCMuni Fund was subject to a material undisclosed risk of a sudden collapse in the price of Easterly ROCMuni Fund shares.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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