The national securities litigation firm Faruqi & Faruqi, LLP is investigating New Era Energy & Digital, Inc. and reminds investors that the deadline to seek appointment as lead plaintiff in the securities class action against the company is June 1, 2026.
The lawsuit is filed on behalf of all individuals and entities that purchased or otherwise acquired securities of New Era Energy & Digital, Inc. between November 6, 2024, and December 29, 2025.
The complaint alleges that, throughout the class period, defendants made false and/or misleading statements and/or failed to disclose that: the company overstated the progress of permitting and regulatory filings for its flagship Texas data center project; the company participated in a fraudulent scheme to transfer oil wells to related entities and then place the responsible company into bankruptcy to evade plugging and remediation costs; consequently, the company's financial results were false and/or misleading; and, as a result, defendants' positive statements about the company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis. Investors suffered losses when the truth entered the market.
On December 12, 2025, an article published by Investing.com stated that New Era Energy & Digital's stock "plunged" following a scathing report by short-seller Fuzzy Panda Research. The report alleged the company spent 2.5 times more on stock promotion than on operating its oil and gas wells and claimed CEO E. Will Gray II had a history of "running penny stock companies into the ground" over roughly 20 years. Following this news, the company's share price fell 6.9% that day.
Subsequently, on December 29, 2025, media reported that the New Mexico Attorney General had filed a lawsuit alleging the company, its CEO, and a network of related entities used shell companies to perpetrate a fraudulent oil and gas scheme to avoid environmental responsibilities like plugging abandoned wells. Following this news, NUAI's stock price plummeted 41% that day, closing at $2.69 per share.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought. This plaintiff acts as a representative for class members, directing and supervising the litigation on behalf of the proposed class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice or may choose to do nothing and remain an absent class member. The decision to serve as lead plaintiff does not affect the right to share in any potential recovery.
Faruqi & Faruqi, LLP is a national securities law firm founded in 1995 with offices in New York, Pennsylvania, California, and Georgia, which has recovered hundreds of millions of dollars for investors to date. The firm also encourages anyone with information regarding New Era, including whistleblowers, former employees, shareholders, and other individuals, to contact them.
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