Reddit beats lawsuit by WallStreetBets founder

Reddit logo is seen in this illustration taken November 7, 2022. REUTERS/Dado Ruvic/Illustration

(Reuters) - 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.

Jaime Rogozinski, who founded WallStreetBets in 2012, said Reddit ousted him in April 2020 as a pretext to keep him from controlling a "a famous brand that helped Reddit rise to a $10 billion valuation" by late 2021.