{"id":32202,"date":"2026-07-07T23:55:00","date_gmt":"2026-07-07T21:55:00","guid":{"rendered":"http:\/\/stocks-future.com\/?guid=a0486131618d42938616f00225f0c1c6"},"modified":"2026-07-07T23:55:00","modified_gmt":"2026-07-07T21:55:00","slug":"the-law-offices-of-frank-r-cruz-announces-investigation-of-new-era-energy-digital-inc-nuai-on-behalf-of-investors","status":"publish","type":"post","link":"https:\/\/stocks-future.com\/?p=32202","title":{"rendered":"The Law Offices of Frank R. Cruz Announces Investigation of New Era Energy & Digital, Inc. (NUAI) on Behalf of Investors"},"content":{"rendered":"

LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz<\/a> is investigating potential claims against the board of directors of New Era Energy & Digital, Inc. (\u201cNew Era Energy\u201d or the \u201cCompany\u201d) (NASDAQ: NUAI<\/a>) concerning whether the board breached its fiduciary duties to shareholders.<\/p><\/a><\/a>

IF YOU ARE A NEW ERA ENERGY & DIGITAL, INC. (NUAI) SHAREHOLDER, CLICK <\/b>HERE<\/b><\/a> TO PARTICIPATE.<\/b><\/p>

What Is The Investigation About?<\/b><\/p>

On December 12, 2025, Fuzzy Panda Research published a report (the \u201cFP Report\u201d) alleging, among other things, that \u201cof NUAI\u2019s 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.<\/b><\/i>\u201d The FP Report states this was in line with prior companies run by New Era Chief Executive Officer (\u201cCEO\u201d), Everett Willard Gray II (\u201cGray,\u201d also known as \u201cE. Will\u201d) who \u201chas a long history (~20 years) of incinerating value at oil & gas pink sheet companies\u201d some seemingly on purpose to effectuate his own financial benefit. For example, the report details how \u201cGray was Co-Founder & CEO of Remnant Oil, a private co, which went bankrupt in 2019 after hundreds of \u2018regulatory violations\u2019<\/b><\/i>\u201d but that Remnant\u2019s wells were \u201cacquired in bankruptcy by a related party, Acacia Resources, and were then sold to Solis Partners, a subsidiary of New Era Energy<\/b><\/i>.\u201d The FP Report states it \u201cuncovered that Gray\u2019s playbook includes financial tricks to enrich insiders, like converting related party loans to equity or paying fees to friends and family.\u201d<\/p>

The FP Report further calls the Company\u2019s pivot to fueling AI companies a \u201cfantasy.\u201d The FP Report alleges that, among other things, that despite the Company \u201ctelling investors it\u2019s made significant progress\u201d with its regulatory permitting, including the submission of air quality permits, \u201cno applications have even been submitted<\/b><\/i>.\u201d The FP states that according to \u201cTexas, 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\u201d the Company had not submitted any of its required permits, \u201cnot even an application<\/b><\/i>.\u201d<\/p>

On this news, New Era\u2019s stock price fell $0.25 per share, or 6.9%, to close at $3.35 on December 12, 2025, on unusually heavy trading volume.<\/p>

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 \u201cHBM Report\u201d). 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 \u201cfraudulent oil-and-gas scheme\u201d to \u201csiphon revenue from wells that produce fossil fuels while abandoning environmental cleanup obligations<\/b><\/i>.\u201d The HBM Report details how the complaint \u201calleges 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.\u201d<\/b><\/i><\/p>

According to the HBM Report, the scheme reportedly involved the Company, Gray, and a network of affiliated companies transferring wells among related entities, including New Era Energy and its subsidiary, Solis Partners \u201cselling\u201d wells to themselves, and then placing liability-bearing companies into bankruptcy to avoid plugging and remediation costs. Reportedly, New Era Energy was core to the scheme, in part by receiving and operating the most valuable gas wells, 87 in total, which were transferred from Acacia to Solis Partners, while leaving Acacia with the bulk of plugging and remediation liabilities. That transfer reportedly occurred in July 2021. According to the complaint, the defendants, including New Era Energy, thus subsequently \u201creceived significant revenue (possibly into the millions of dollars) that they knew would otherwise be required to address\u201d<\/b><\/i> plugging and remediation costs.<\/p>

On this news, New Era\u2019s stock price fell $1.87, or 41%, to close at $2.69 per share on December 29, 2025, on unusually heavy trading volume.<\/p>

If you still hold New Era Energy shares purchased before<\/b> November 2024 <\/b>and wish to discuss this matter with us, or have any questions concerning your rights and interests with regards to this matter, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 2121 Avenue of the Stars, Suite 800, Los Angeles, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com<\/a>, or visit our website at www.frankcruzlaw.com<\/a>. If you inquire by email please include your mailing address, telephone number and number of shares purchased.<\/p>

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.<\/p>

Follow us for updates on Twitter: twitter.com\/FRC_LAW<\/a>.<\/p> Contacts<\/b>

The Law Offices of Frank R. Cruz, Los AngelesFrank R. Cruz, 310-914-5007fcruz@frankcruzlaw.com<\/a>www.frankcruzlaw.com<\/a><\/p>","protected":false},"excerpt":{"rendered":"

LOS ANGELES–(BUSINESS WIRE)–The Law Offices of Frank R. Cruz is investigating potential claims against the board of directors of New Era Energy & Digital, Inc. (\u201cNew Era Energy\u201d or the \u201cCompany\u201d) (NASDAQ: NUAI) concerning whether the board breach…<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-32202","post","type-post","status-publish","format-standard","hentry","category-infos-businesswire"],"_links":{"self":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/32202","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=32202"}],"version-history":[{"count":1,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/32202\/revisions"}],"predecessor-version":[{"id":32203,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/32202\/revisions\/32203"}],"wp:attachment":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=32202"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=32202"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=32202"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}