Court approves $1M settlement in New Mexico lawsuit against New Era Energy

New Era Energy & Digital, Inc. (Nasdaq: NUAI) announced that the U.S. Bankruptcy Court for the Western District of Texas approved a settlement resolving trustee-controlled claims brought by the State of New Mexico against the company and certain related parties.

The settlement, approved July 9, 2026, requires the New Era defendants to pay a total of $1.0 million. Of that amount, $350,000 will go to the State of New Mexico and $650,000 will be paid to the U.S. Trustee on behalf of the bankruptcy estate of Acacia Resources, LLC. Payment is due within five business days of the court's order.

Following receipt of payment, the Trustee will release the New Era defendants from the trustee-controlled claims and move to dismiss those claims with prejudice. The company stated the settlement does not constitute an admission of liability or wrongdoing, and the New Era defendants expressly deny liability.

The settlement resolves five of the State of New Mexico's claims against the company. The State continues to maintain three separate claims against E. Will Gray II in his individual capacity. Those claims are not affected by the settlement.

The underlying lawsuit involved the bankruptcy estates of Acacia Resources, LLC and Acacia Operating Company, LLC. The Trustee filed a motion seeking court approval of the settlement on May 22, 2026.

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