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#: WallStreetBets creator Jaime Rogozinski sues Reddit over his ouster

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“: WallStreetBets creator Jaime Rogozinski sues Reddit over his ouster”

WallStreetBets’ founder is suing the site where it all began.

Jaime Rogozinski, creator of the community that sent untold numbers of individual investors piling into meme stocks two years ago, filed a lawsuit against Reddit. Rogozinski is accusing the social-media platform of breaching its contract by ousting him from his role as a WallStreetBets moderator in 2020 and infringing on his right to trademark the WallStreetBets brand, among other complaints.

“I felt this was personal, and I felt betrayed,” Rogozinski said in an interview with The Wall Street Journal.

A Reddit spokeswoman called Rogozinski’s lawsuit completely frivolous and said his claims had no basis in reality.

“Jamie was removed as a moderator of r/WallStreetBets by Reddit and banned by the community moderators for attempting to enrich himself. This lawsuit is another transparent attempt to enrich himself,” the spokeswoman said. “We’ll respond directly in court and continue to protect the best interests of the communities and moderators on our platform.”

An expanded version of this report appears on WSJ.com.

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