Securities Class Action Targets New Era Energy Over Alleged Oil‑and‑Gas Revenue Scheme

Overview

• A securities class action has been filed on behalf of investors who bought New Era Energy & Digital (NASDAQ: NUAI) shares between November 6, 2024 and December 29, 2025, alleging false and misleading statements about the company’s business and projects.
• The New Mexico Attorney General’s complaint, cited repeatedly in investor filings, accuses New Era, its subsidiary Solis Partners and CEO Everett Willard Gray II of using related‑party transfers, shell entities and strategic bankruptcies to divert revenue from hundreds of wells and evade plugging and cleanup costs.
• Independent research by Fuzzy Panda questioned New Era’s permitting claims for its Texas data‑center project and reported that many wells were bought from bankrupt operators, and those findings helped trigger market moves in December 2025 when corrective disclosures hit the stock.
• Multiple plaintiff‑side law firms are soliciting NUAI holders and urging institutions to seek lead‑plaintiff status under the PSLRA, with the court‑set deadline to move for lead plaintiff set for June 1, 2026.
• The litigation is in its early stages, the allegations remain unproven in court, and institutional investors face a decision about pursuing lead status or remaining absent class members while the case moves into discovery and possible settlement talks.