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WallStreetBets founder sues Reddit

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Jaime Rogozinski, the founder of Reddit's WallStreetBets forum, filed suit against the social media platform.

He's seeking $1 million in damages after being banned as moderator of the forum, the birthplace of the meme-stock craze, according to Business Insider. Reddit officials called the complaint "completely frivolous."

Rogozinski was banned after violating Reddit policies on monetizing communities. He wrote a book titled "WallStreetBets: How Boomers Made the World's Biggest Casino for Millennials."

Read more from Business Insider.

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