What was filed
Rock Point Partners LLC v. Tamarisk Capital Management LLC, Sound Capital Solutions LLC, and Ryan Gorman, No. 1:26-cv-11788 (N.D. Ill.), was filed September 25, 2026. Rock Point says it is a Wisconsin limited liability company. It identifies Tamarisk as a Michigan company that serves as the accused fund's sub-adviser, Sound Capital as a Delaware company based in Chicago that serves as its investment adviser, and Gorman as the fund's portfolio manager. The clerk's assignment entry assigns the case to Judge Charles P. Kocoras. Rock Point demands a jury trial.
The marks
The complaint pleads U.S. Reg. No. 8,068,431 for ADAPTIV and No. 7,294,441 for ADAPTIV SELECT ETF. USPTO records show both registered to Rock Point in Class 36 for financial services that include operating and managing exchange-traded funds for others, No. 7,294,441 on January 30, 2024, and No. 8,068,431 on December 16, 2025. The complaint alleges use of ADAPTIV since 2022 for an ETF traded under the ticker ADPV.
What the complaint alleges
The complaint alleges that Gorman contacted Rock Point in 2025 for guidance on launching an ETF and knew of the ADAPTIV ETF, and, on information and belief, that he shared what he learned with the other defendants and suggested a fund name that incorporates adaptive. It alleges that the defendants filed a Form N-1A for the accused fund on October 22, 2025, did not stop after Rock Point's cease-and-desist letters, and launched the fund on CBOE exchanges around April 15, 2026.
The counts and relief
Count I alleges willful infringement under 15 U.S.C. § 1114, and Count II alleges false designation of origin under 15 U.S.C. § 1125(a). Rock Point seeks injunctive relief, damages, and fees. The docket shows an October 16, 2026 order on a motion to extend the time to answer.