Glancy Prongay Wolke & Rotter LLP Announces Investigation of New Era Energy & Digital, Inc. (NUAI) on Behalf of Investors
Glancy Prongay Wolke & Rotter LLP, a leading national shareholder rights law firm, today announced that it is investigating potential claims against the board of directors of New Era Energy & Digital, Inc. (“New Era Energy” or the “Company”) (NASDAQ: NUAI) concerning whether the board breached its fiduciary duties to shareholders.
IF YOU ARE A NEW ERA ENERGY & DIGITAL, INC. (NUAI) SHAREHOLDER, CLICK HERE TO PARTICIPATE.
What Is The Investigation About?
On December 12, 2025, Fuzzy Panda Research published a report (the “FP Report”) alleging, among other things, that “of NUAI’s 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.” The FP Report states this was in line with prior companies run by New Era Chief Executive Officer (“CEO”), Everett Willard Gray II (“Gray,” also known as “E. Will”) who “has a long history (~20 years) of incinerating value at oil & gas pink sheet companies” some seemingly on purpose to effectuate his own financial benefit. For example, the report details how “Gray was Co-Founder & CEO of Remnant Oil, a private co, which went bankrupt in 2019 after hundreds of ‘regulatory violations’” but that Remnant’s wells were “acquired in bankruptcy by a related party, Acacia Resources, and were then sold to Solis Partners, a subsidiary of New Era Energy.” The FP Report states it “uncovered that Gray’s playbook includes financial tricks to enrich insiders, like converting related party loans to equity or paying fees to friends and family.”
