WallStreetBets' founder sues Reddit over 'nightmare' ban

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WallStreetBets' founder sues Reddit over 'nightmare' ban
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WallStreetBets' founder is suing Reddit over ousting him from the meme-stock forum, reportedly saying he wants $1 million after the 'nightmare' ban

Rogozinski says he was ousted by Reddit after writing a book titled

But Rogozinski — who founded WallStreetBets in 2012 — said in his complaint that its justification was a pretext. He claimed his true offense was"trying to control the brand he created in the first place, a famous brand that helped Reddit ride to aThe social media company was valued at $10 billion in an August 2021 private funding round, but was recently valued by Fidelity at $6.

"It's telling that he is filing this suit three years after he was banned from r/WallStreetBets and long after the community rose in mainstream popularity without his involvement," they said."We'll respond directly in court and continue to protect the best interests of the communities and moderators on our platform."

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