Philadelphia, Pennsylvania--(Newsfile Corp. - May 12, 2026) - What is Happening? Grabar Law Office is investigating claims on behalf of shareholders of New Era Energy & Digital, Inc. ("New Era" or the "Company") (NASDAQ: NUAI). The investigation concerns whether New Era and certain of its officers and directors breached their fiduciary duties owed to the Company.

If you purchased New Era Energy & Digital, Inc. (NASDAQ: NUAI) shares on or near the Company's November 6, 2024 IPO, and continue to hold shares today, please visit https://grabarlaw.com/the-latest/newera-shareholder-investigation-2/ contact Joshua H. Grabar at jgrabar@grabarlaw.com, or call 267-507-6085. You may be able to seek corporate governance reforms, the return of funds back to the Company, and a court-approved incentive award at no cost to you whatsoever.

Why? According to a recently filed federal securities fraud class action complaint, New Era and certain of its officers allegedly made false and misleading statements concerning the Company's Texas Critical Data Centers project, permitting progress, environmental liabilities, and related-party oil and gas transactions. The complaint alleges that New Era overstated its progress in obtaining regulatory permits and advancing its purported flagship Texas Critical Data Centers project, while publicly touting "tangible progress across all fronts including engineering, permitting, regulatory filings, and land expansion." According to the complaint, the Company also represented to investors that it was making substantial progress toward a large-scale AI and high-performance computing data center campus in West Texas.

On December 12, 2025, however, Fuzzy Panda Research published a report alleging that New Era's AI pivot was largely a "fantasy," and that despite Company representations regarding permitting progress, "no applications have even been submitted" for required construction and environmental permits. The same report further alleged that a substantial number of New Era's gas wells had been acquired from bankrupt entities tied to Company insiders, and accused management of engaging in financial practices designed to enrich insiders while avoiding environmental cleanup obligations. On this news, New Era stock fell approximately 6.9% on December 12, 2025.

Then, on December 29, 2025, reports emerged that the New Mexico Attorney General had filed suit against New Era, its subsidiary Solis Partners, LLC, and Company CEO Everett Willard Gray II, alleging a "fraudulent oil-and-gas scheme" involving self-dealing transactions, shell entities, and strategic bankruptcies designed to evade plugging and remediation obligations for inactive wells.

According to the complaint, the alleged scheme involved transferring wells among affiliated entities while leaving environmental liabilities behind in bankruptcy proceedings.

On this news, New Era stock fell an additional 41%, closing at $2.69 per share on December 29, 2025.

What Can You Do Now? If you purchased or otherwise acquired New Era Energy & Digital, Inc. (NASDAQ: NUAI) shares prior to November 6, 2024, and continue to hold shares today, you may have standing to seek corporate governance reforms, the return of funds back to the Company, and a court-approved incentive award at no cost to you whatsoever. Visit https://grabarlaw.com/the-latest/newera-shareholder-investigation-2/, email Joshua Grabar at jgrabar@grabarlaw.com, or call us at 267-507-6085.

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Source: Grabar Law Office