Deadline Alert: Shareholders Urged to Contact Firm About New Era Energy Lawsuit

Glancy Prongay Wolke & Rotter LLP reminds investors of upcoming deadline to file lead plaintiff motion in securities fraud class action.

Apr. 14, 2026 at 7:14pm

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A photorealistic studio still life featuring a shattered glass lens, a crumpled legal document, and a stack of dollar bills on a clean, monochromatic background, symbolizing the alleged financial fraud and environmental damage caused by the actions of New Era Energy.A shattered lens and crumpled legal documents evoke the alleged financial fraud and environmental damage at the heart of the class action lawsuit against New Era Energy.Los Angeles Today

Glancy Prongay Wolke & Rotter LLP is reminding investors of the June 1, 2026 deadline to file a lead plaintiff motion in a class action lawsuit against New Era Energy & Digital, Inc. (NASDAQ: NUAI). The lawsuit alleges the company made materially false and misleading statements about its business, operations, and prospects during the class period of November 6, 2024 to December 29, 2025.

Why it matters

This lawsuit represents an important opportunity for shareholders who lost money on New Era Energy investments to potentially recover their losses. The case alleges a pattern of fraudulent behavior by the company and its CEO, including transferring oil and gas wells among related entities to avoid cleanup costs.

The details

The lawsuit was filed after a report by Fuzzy Panda Research alleged that New Era Energy acquired hundreds of bankrupt oil and gas wells, including 87 from a company previously run by CEO Everett Willard Gray II. The report claimed Gray has a history of 'incinerating value' at oil and gas companies. A later report by Hunterbrook Media revealed the New Mexico Attorney General had filed a lawsuit accusing New Era Energy, Gray, and affiliated companies of orchestrating a 'fraudulent oil-and-gas scheme' to avoid environmental cleanup obligations.

  • On December 12, 2025, Fuzzy Panda Research published a report making allegations against New Era Energy.
  • On December 29, 2025, Hunterbrook Media reported that the New Mexico Attorney General had filed a lawsuit against New Era Energy, its subsidiary, and CEO Everett Willard Gray II.

The players

New Era Energy & Digital, Inc.

A NASDAQ-listed company that pivoted from oil and gas to fueling AI companies, but is accused of engaging in a fraudulent scheme to avoid environmental cleanup costs.

Everett Willard Gray II

The CEO of New Era Energy who is accused of a history of 'incinerating value' at oil and gas companies, including through strategic bankruptcies.

Glancy Prongay Wolke & Rotter LLP

The law firm representing investors in the securities fraud class action lawsuit against New Era Energy.

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What’s next

The judge will decide on June 1, 2026 whether to appoint a lead plaintiff in the class action lawsuit against New Era Energy.

The takeaway

This case highlights the importance of thorough due diligence, especially when investing in companies that have pivoted business models or have executives with a history of value destruction. Shareholders who lost money may have an opportunity to recover losses through the class action lawsuit.