Feb 15 (Reuters) - The founder of WallStreetBets, which has been credited with helping ignite investors' frenzy into "meme" stocks, sued Reddit Inc on Wednesday, accusing it of wrongly banning him from moderating the community and undermining his trademark rights.
According to the complaint filed in federal court in Oakland, California, Rogozinski applied to trademark "WallStreetBets" in March 2020, one month before his ouster, when the community reached 1 million subscribers.
"Jamie was removed as a moderator of r/WallStreetBets by Reddit and banned by the community moderators for attempting to enrich himself.
Meme stocks typically gain popularity through discussions, often among inexperienced investors, in online forums such as WallStreetBets and Twitter.
The case is Rogozinski v Reddit Inc, U.S. District Court, Northern District of California, No.