According to the lawsuit, throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that:
- New Era Energy overstated its progress in its permitting and regulatory filings for its flagship Texas Critical Data Centers project;
- New Era Energy was involved in a fraudulent scheme “to pocket revenues from hundreds of oil and gas wells in New Mexico” by transferring wells among related entities and then placing liability-bearing companies into bankruptcy to avoid plugging and remediation costs;
- as a result, New Era Energy’s financial results were false and/or misleading; and
- as a result of the foregoing, defendants’ positive statements about New Era Energy’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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