LegalMay 28, 2026, 04:03 PM
New Era to Pay $1.0M to Settle New Mexico Lawsuit
AI Summary
New Era Energy & Digital, Inc. announced a pending agreement that would lead to the complete dismissal of the company from the State of New Mexico's lawsuit. The settlement, which is subject to Bankruptcy Court approval, involves a $1.0 million payment by the New Era defendants to the Trustee. The company expressly denies liability or wrongdoing. While the settlement dismisses five claims against the company, three claims against CEO E. Will Gray II in his individual capacity remain. New Era stated it remains focused on advancing its AI data center strategy.
Key Highlights
- New Era announced a pending agreement to dismiss the company from the State of New Mexico's lawsuit.
- The settlement requires New Era defendants to pay $1.0 million to the Trustee.
- Payment is due within five business days following Bankruptcy Court approval.
- The agreement resolves claims controlled by the Trustee, including Uniform Voidable Transactions Act allegations.
- New Era defendants expressly deny any liability or wrongdoing.
- The settlement dismisses five claims against the company, but three claims against CEO E. Will Gray II remain.
- New Era remains focused on advancing its 1.4 GW AI data center strategy in Texas.
Price Impact
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