Hunterbrook short New Era Energy & Digital as New Mexico AG files lawsuit

Hunterbrook is short New Era Energy & Digital. In a recently published report, it notes that New Mexico Attorney General Raul Torrez has filed “a sweeping enforcement lawsuit seeking to bar New Era from conducting business in New Mexico until certain conditions are met. The requirements include paying civil damages and penalties. This litigation collides with the company’s push to develop a large, energy-intensive AI data center in the state.” The lawsuit accuses New Era, its chief executive Everett Willard Gray II, and a network of affiliated companies of orchestrating a fraudulent oil-and-gas scheme. “Allegedly, the defendants sought to siphon revenue from wells that produce fossil fuels while abandoning environmental cleanup obligations,” the report reads. Earlier this month, Fuzzy Panda Research said it was also short New Era Energy & Digital in “bet against CEO.” Shares of New Era Energy & Digital have dropped almost 34% to $2.89 in afternoon trading.