WallStreetBets Founder Sues Reddit

Jaime Rogozinski, the founder of the Reddit community WallStreetBets, filed a lawsuit against Reddit, accusing the platform of breaching its contract by ousting him from his role as moderator in 2020 and infringing on his right to trademark the WallStreetBets brand. In 2020 Rogozinski published a book on how many millennials had come to treat the stock market like a casino and included anecdotes from his time on WallStreetBets. He posted a link to the book’s Amazon ($AMZN@US) listing in the WallStreetBets forum. He also announced that WallStreetBets would host a live trading competition sponsored by True Trading Group. Reddit notified Rogozinski in April 2020 that his account had been suspended for attempting to monetize a community, citing a policy that prohibits moderators from entering “agreements with third parties on behalf of a subreddit.”