Deadline Alert: Shareholders of New Era Energy & Digital Urged to Join Securities Fraud Lawsuit

Glancy Prongay Wolke & Rotter LLP reminds investors of the June 1, 2026 deadline to file as lead plaintiff in the class action against the company.

Apr. 3, 2026 at 10:05pm

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A photorealistic studio still life of a shattered chrome piggy bank lying on a clean white background, representing the financial losses from the alleged securities fraud at New Era Energy.A shattered chrome piggy bank symbolizes the financial losses suffered by investors in the alleged New Era Energy securities fraud scheme.Los Angeles Today

Glancy Prongay Wolke & Rotter LLP has filed a class action lawsuit on behalf of investors who purchased or acquired New Era Energy & Digital, Inc. (NASDAQ: NUAI) securities between November 6, 2024 and December 29, 2025. The lawsuit alleges the company made materially false and misleading statements about its business, operations, and prospects, including overstating progress on permitting for its Texas data centers project and involvement in a fraudulent oil and gas scheme.

Why it matters

This lawsuit represents a significant legal challenge for New Era Energy & Digital, a company that has been accused of engaging in a complex scheme to fraudulently transfer oil and gas assets and avoid environmental cleanup costs. The outcome could have major financial implications for the company and its shareholders.

The details

The lawsuit alleges that New Era Energy & Digital, its CEO Everett Willard Gray II, and other affiliated entities orchestrated a 'fraudulent oil-and-gas scheme' to siphon revenue from wells while abandoning environmental cleanup obligations. This reportedly involved transferring wells between related entities and then placing liability-bearing companies into bankruptcy to avoid plugging and remediation costs. The company is also accused of overstating progress on permitting for its Texas data centers project.

  • The class period covers November 6, 2024 to December 29, 2025.
  • The lawsuit was filed on June 1, 2026, with a deadline for lead plaintiff motions on the same date.

The players

New Era Energy & Digital, Inc.

A NASDAQ-listed company that was formerly known as New Era Helium Inc. and has been accused of engaging in a fraudulent oil and gas scheme.

Everett Willard Gray II

The CEO of New Era Energy & Digital, who is alleged to have a history of 'incinerating value at oil & gas pink sheet companies' and orchestrating the fraudulent scheme.

Glancy Prongay Wolke & Rotter LLP

The law firm that has filed the class action lawsuit on behalf of investors who purchased New Era Energy & Digital securities during the class period.

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What they’re saying

“If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us.”

— Charles Linehan, Attorney, Glancy Prongay Wolke & Rotter LLP

What’s next

The deadline for investors to file a lead plaintiff motion in the class action is June 1, 2026.

The takeaway

This lawsuit highlights the importance of thorough due diligence and oversight when investing in companies, especially those with a history of questionable business practices. The outcome could set a precedent for how courts handle complex financial schemes involving oil and gas assets.