Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses In New Era To Contact Him Directly To Discuss Their Options
If you purchased or acquired securities in New Era between November 6, 2024 and December 29, 2025 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).
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NEW YORK, May 29, 2026 /PRNewswire/ — Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against New Era Energy & Digital, Inc. (“New Era” or the “Company”) (NASDAQ: NUAI) and reminds investors of the June 1, 2026 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.
As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) the Company overstated its progress in its permitting and regulatory filings for its flagship Texas Critical Data Centers project; (2) the Company was involved in a fraudulent scheme “to pocket revenues from hundreds of oil and gas wells in New Mexico” by transferring wells among related entities and then placing liability-bearing companies into bankruptcy to avoid plugging and remediation costs; (3) that, as a result, the Company’s financial results were false and/or misleading; and (4) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
On December 12, 2025, Investing.com published an article entitled “New Era Energy & Digital stock falls after Fuzzy Panda short report.” The article stated that New Era Energy & Digital stock “tumbled” after “short seller Fuzzy Panda Research released a scathing report targeting the company.” Further, the article stated that Fuzzy Panda’s short report, “titled ‘NUAI: Serial Penny Stock CEO Combined Bad Gas Assets, Paid Stock Promo, Renamed Co & Added ‘AI’,’ alleges that the company spent 2.5 times more on stock promotions than on operating its oil and gas wells. Fuzzy Panda claims CEO E. Will Gray II has a history of running penny stock companies “into the ground” over approximately 20 years.” On this news, New Era Energy & Digital’s stock fell 6.9% on December 12, 2025.
Then, on December 29, 2025, media outlets reported that the New Mexico Attorney General had filed a lawsuit alleging that the Company, its CEO, and a network of affiliated companies orchestrated a fraudulent oil-and-gas scheme using shell companies to avoid environmental responsibilities such as plugging inactive wells. On this news, New Era’s stock price fell $1.87, or 41%, to close at $2.69 per share on December 29, 2025, thereby injuring investors further.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative 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. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding New Era’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
To learn more about the New Era Energy & Digital class action, go to www.faruqilaw.com/NUAI or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).
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SOURCE Faruqi & Faruqi, LLP
