NUAI Lawsuit Alleges Company Allegedly Concealed Disclosure Timeline - New Era Energy & Digital Investors Face Losses Following Company Allegedly Concealed Disclosure Timeline: SueWallSt
Key Dates and Disclosure Events Shareholders Need to Know
NEW YORK, May 21, 2026 /PRNewswire/ -- SueWallSt encourages investors who suffered losses in New Era Energy & Digital, Inc. (NASDAQ: NUAI) to contact the firm. Those who purchased NUAI securities between November 6, 2024 and December 29, 2025 may be entitled to recover damages. Find out if you are eligible to recover losses. You may also contact Joseph E. Levi, Esq. at [email protected] or (888) SueWallSt.
NUAI shares lost $1.87 per share on the final corrective disclosure, a single-day decline of 41%. The window to apply for lead plaintiff closes on June 1, 2026.
November 6, 2024: The Proxy Statement Sets the Stage
New Era Energy filed its proxy statement/prospectus soliciting stockholder approval of its business combination with Roth CH Acquisition V Co. The filing purported to describe the Company's asset retirement obligations, financial results, and the methodology for calculating ARO liabilities tied to hundreds of oil and gas wells in New Mexico. The lawsuit contends these disclosures were materially misleading from the outset.
December 6, 2024: Business Combination Closes, AI Pivot Promoted
The Company issued a press release announcing the closing of the business combination and its NASDAQ listing. Management touted a joint venture to build a 90MW net-zero Tier 3 data center in the Permian Basin, positioning New Era as a player in AI-powered infrastructure. Investors were told the Company had over 137,000 acres and 1.5 billion cubic feet of proved and probable helium reserves.
October 6, 2025: "Tangible Progress" Claimed on Permitting
New Era announced Phase Two engineering for its Texas Critical Data Centers project. The Company claimed "significant progress on obtaining air permits" and stated it was "pursuing a minor source air permit" that could "typically be approved within 90 days." The securities action alleges no permit applications had actually been submitted to any regulatory body.
November 4, 2025: Investor Presentation Reaffirms "Underway" Status
An SEC filing described a four-phase execution model and represented that Phase Two, including "regulatory permitting," was "underway" for the Texas Critical Data Centers project. As alleged in the action, this statement lacked any factual basis.
December 12, 2025: First Corrective Disclosure
Fuzzy Panda Research published a report alleging that searches of Texas, New Mexico, and federal databases revealed "NOTHING, not even an application" for construction or environmental permits. The report further detailed a pattern of bankruptcies and related-party dealings tied to the CEO's prior companies. NUAI fell 6.9% on unusually heavy volume.
December 29, 2025: Attorney General Lawsuit Revealed
Hunterbrook Media reported that the New Mexico Attorney General had filed suit against New Era Energy, Solis Partners, and the CEO, alleging a "fraudulent oil-and-gas scheme" involving siphoning revenue from wells while abandoning environmental cleanup obligations through strategic bankruptcies and shell entities. NUAI plunged 41% to close at $2.69.
Chronology of Material Events: Key Takeaways
- November 6, 2024: Proxy statement filed with allegedly misleading ARO and financial disclosures
- December 6, 2024: Business combination closes; AI data center pivot promoted to investors
- October 6, 2025: Management claims "tangible progress" on permitting despite allegedly filing zero applications
- November 4, 2025: Investor presentation states regulatory permitting "underway"
- December 12, 2025: Short seller report reveals no permit applications exist; stock drops 6.9%
- December 29, 2025: New Mexico AG lawsuit alleging fraudulent oil-and-gas scheme revealed; stock drops 41%
Submit your claim before the deadline or call (888) SueWallSt.
"Timely disclosure of material developments is fundamental to fair and efficient markets. The chronology here raises questions about whether investors received accurate, up-to-date information about the status of critical regulatory milestones and the Company's environmental obligations." -- Joseph E. Levi, Esq.
ABOUT THE FIRM -- For over two decades, SueWallSt has represented shareholders in securities class actions. Ranked in ISS Top 50 for seven consecutive years. Those wishing to serve as lead plaintiff must act by June 1, 2026.
Frequently Asked Questions About the NUAI Lawsuit
Q: When did New Era Energy allegedly mislead investors? A: The class period runs from November 6, 2024 to December 29, 2025. During this time, the complaint alleges the Company made materially false statements about its permitting progress, data center development, and oil-and-gas operations. The alleged fraud was revealed through corrective disclosures on December 12 and December 29, 2025.
Q: How much did NUAI stock drop? A: Shares fell approximately 41%, a decline of $1.87 per share, after Hunterbrook Media reported the New Mexico Attorney General's lawsuit alleging a fraudulent oil-and-gas scheme. An earlier disclosure on December 12, 2025 caused a 6.9% decline. Investors who purchased shares during the class period at artificially inflated prices may be entitled to compensation.
Q: What do NUAI investors need to do right now? A: Gather brokerage records including purchase dates, share quantities, and prices paid. Contact SueWallSt for a free, no-obligation evaluation at [email protected] or (888) SueWallSt. No immediate action is required to remain eligible as a class member.
Q: What is a lead plaintiff and why does it matter? A: A lead plaintiff is the investor appointed by the court to represent the entire class. Lead plaintiffs are typically investors with the largest documented losses. Being appointed does not increase individual recovery but gives direct oversight of how the case is run.
Q: What if I already sold my NUAI shares, can I still recover losses? A: Yes. Eligibility is based on when you purchased, not whether you still hold them. Investors who bought during the class period and sold at a loss may still participate.
Q: Do I need to go to court or give testimony? A: No. The overwhelming majority of class members never appear in court or give depositions. You submit a claim form to receive your portion of recovery.
Q: What does it cost me to participate? A: Nothing. Securities class actions are handled on a pure contingency basis. No upfront fees, no retainer, no out-of-pocket costs.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
Tel: (888) SueWallSt
Fax: (212) 363-7171
SOURCE SueWallSt.com
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