[Fetch Sues Ocean and Its Founders, Accusing Them of Privately Selling 263 Million FET Tokens and Undermining DAO Governance] According to CryptoSlate, Fetch and three token holders filed a class-action lawsuit in the Southern District of New York, accusing Ocean Protocol and its founders of misleading the community and creating misunderstandings about the autonomy of OceanDAO. The case, numbered 1:25-cv-9210, was filed on November 4, 2025. The defendants include Ocean Protocol Foundation Ltd., Ocean Expeditions Ltd., OceanDAO, and Ocean co-founders Bruce Pon, Trent McConaghy, and Christina Pon. The plaintiffs claim that Ocean falsely represented that hundreds of millions of OCEAN "community" tokens would be reserved for DAO rewards but instead converted and sold these tokens after joining the ASI alliance, thereby devaluing FET and undermining the governance model claimed by the DAO. The lawsuit states that over 661 million OCEAN were converted into approximately 286.46 million FET, of which about 263 million FET were released into the market, accounting for more than 10% of the circulating supply at the time. This caused downward pressure on FET's price during and after Ocean's market exit. The document states that in late June, Ocean transferred OceanDAO assets to the Cayman Islands entity Ocean Expeditions. Starting in early July, Ocean began converting OCEAN into FET, liquidated most of the resulting FET on centralized exchanges, and exited the ASI alliance in October.