NEW YORK, April 9, 2026 /PRNewswire/ -- Pomerantz LLP announces that a class action lawsuit has been filed against New Era Energy & Digital, Inc. ("New Era" or the "Company") (NASDAQ: NUAI). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.
The class action concerns whether New Era and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
You have until June 1, 2026, to ask the Court to appoint you as Lead Plaintiff for the class if you purchased or otherwise acquired New Era securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com.
[Click here for information about joining the class action]
On December 12, 2025, Fuzzy Panda Research published a report (the "FP Report") alleging, among other things, that "of NUAI's 406 gas wells, 346 were acquired from companies that went bankrupt operating the very same wells, including 87 wells from the company E. Will Gray II was CEO of and bankrupted himself, Remnant Oil." The FP Report states this was in line with prior companies run by New Era Chief Executive Officer ("CEO"), Everett Willard Gray II ("Gray," also known as "E. Will") who "has a long history (~20 years) of incinerating value at oil & gas pink sheet companies" some seemingly on purpose to effectuate his own financial benefit. For example, the report details how "Gray was Co-Founder & CEO of Remnant Oil, a private co, which went bankrupt in 2019 after hundreds of 'regulatory violations'" but that Remnant's wells were "acquired in bankruptcy by a related party, Acacia Resources, and were then sold to Solis Partners, a subsidiary of New Era Energy." The FP Report states it "uncovered that Gray's playbook includes financial tricks to enrich insiders, like converting related party loans to equity or paying fees to friends and family." The FP Report further calls the Company's pivot to fueling AI companies a "fantasy." The FP Report alleges that, among other things, that despite the Company "telling investors it's made significant progress" with its regulatory permitting, including the submission of air quality permits, "no applications have even been submitted." The FP states that according to "Texas, New Mexico and Federal government databases for the construction and environmental permits that NUAI will need to start building its data centers and power plants" the Company had not submitted any of its required permits, "not even an application."
On this news, New Era's stock price fell $0.25 per share, or 6.9%, to close at $3.35 per share on December 12, 2025.
Then, on December 29, 2025, Hunterbrook Media reported that the New Mexico Attorney General filed a lawsuit against New Era Energy, its subsidiary Solis Partners, LLC, and Gray, among others (the "HBM Report"). The HBM Report publicized that New Mexico had recently filed a complaint alleging New Era Energy, Gray, and a network of affiliated companies, had orchestrated a "fraudulent oil-and-gas scheme" to "siphon revenue from wells that produce fossil fuels while abandoning environmental cleanup obligations." The HBM Report details how the complaint "alleges a broader pattern of fraudulent transfers, self-dealing, and false statements to regulators, including the use of shell entities and strategic bankruptcies to evade responsibility." On December 29, 2025, Hunterbrook Media reported that the New Mexico Attorney General filed a lawsuit against New Era Energy, its subsidiary Solis Partners, LLC, and Gray, among others, (the "HBM Report"). The HBM Report publicized that New Mexico had recently filed a complaint alleging New Era Energy, Gray, and a network of affiliated companies, had orchestrated a "fraudulent oil-and-gas scheme" to "siphon revenue from wells that produce fossil fuels while abandoning environmental cleanup obligations." The HBM Report details how the complaint "alleges a broader pattern of fraudulent transfers, self-dealing, and false statements to regulators, including the use of shell entities and strategic bankruptcies to evade responsibility."
On this news, New Era's stock price fell $1.87 per share, or 41.01%, to close at $2.69 per share on December 29, 2025.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Danielle Peyton
Pomerantz LLP
dpeyton@pomlaw.com
646-581-9980 ext. 7980
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SOURCE Pomerantz LLP
