The Rosen Law Firm issued a final reminder to New Era Energy & Digital, Inc. (NASDAQ: NUAI) investors with losses over $100,000 of the fast-approaching June 1, 2026, lead plaintiff deadline in a securities class action lawsuit.
According to the lawsuit, defendants made false and/or misleading statements and failed to disclose that the company was involved in a fraudulent scheme and had overstated progress on a key project. The filing alleges New Era Energy misled investors on its flagship Texas Critical Data Centers project and its involvement in a scheme to "pocket revenues from hundreds of oil and gas wells in New Mexico."
The complaint claims the company transferred wells among related entities before placing liability-bearing companies into bankruptcy to avoid plugging and remediation costs. As a result, the lawsuit alleges the company's financial results were false and that positive statements about its business were materially misleading. When the true details entered the market, the lawsuit claims that investors suffered damages.
The lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. Investors who wish to serve as lead plaintiff for the class must file their papers with the court by the June 1 deadline. Shareholders who do not take action can remain absent class members and are still eligible for any potential recovery.
The upcoming deadline is the next critical date for investors, as the selection of a lead plaintiff will determine the direction of the case against company leadership. Investors will be watching for court filings on June 1 to see which parties will seek to control the litigation on behalf of the shareholder class.
This article is for informational purposes only and does not constitute investment advice.
