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The founder of WallStreetBets is suing Reddit

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Illustration: Alex Castro / The Verge

The creator of WallStreetBets, the online community that helped send the GameStop stock soaring in 2021, is suing Reddit. In a lawsuit filed on Wednesday, Jaime Rogozinski claims Reddit wrongfully banned him from moderating the subreddit and violated his rights to a trademark, as first reported by The Wall Street Journal.

Rogozinski first created r/WallStreetBets in 2012 with the intent of establishing a community for everyday investors who may not know the ins and outs of stock trading. It exploded in popularity around 2020, encouraging traders to buy various “meme” stocks like GameStop and AMC and chastising those with “paper hands” for selling too early.

As the subreddit started to add more members, Rogozinski claims Reddit…

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