A U.S. judge on Tuesday dismissed a lawsuit in which the founder of WallStreetBets, which helped ignite investors' fascination with"meme" stocks, accused Reddit of wrongly banning him from moderating the community and usurping his trademark rights.
Rogozinski had applied to trademark"WallStreetBets" in March 2020, when the community reached 1 million subscribers. It now has 14 million. She also dismissed Rogozinski's state law claims related to his ouster, saying either that they were preempted by a federal law that provides"broad immunity" to websites publishing mainly outside content, or that he lacked standing to sue."While we are disappointed with today's ruling, Mr. Rogozinski remains confident and committed to vindicating his rights," his lawyer James Lawrence said in an email.