Trademark Trial and Appeal Board Electronic Filing System. http://estta.uspto.gov ESTTA Tracking number: ESTTA1055534 Filing date: 05/14/2020 IN THE UNITED STATES PATENT AND TRADEMARK OFFICE BEFORE THE TRADEMARK TRIAL AND APPEAL BOARD Petition for Cancellation Notice is hereby given that the following party has filed a petition to cancel the registration indicated below. Petitioner Information Name Dune Lake Capital LLC Entity LIMITED LIABILITY COM- Citizenship DELAWARE PANY Address 13 Spotted Dolphin Drive Santa Rosa Beach, FL 32459 UNITED STATES Attorney informa- William R. Samuels tion Scarinci Hollenbeck 3 Park Ave 15TH floor New York, NY 10016 UNITED STATES [email protected], [email protected], [email protected] 2127846939 Registration Subject to Cancellation Registration No. 3106680 Registration date 06/20/2006 Registrant Dune Capital Management LP 623 Fifth Avenue, 30th Floor New York, NY 10022 UNITED STATES Goods/Services Subject to Cancellation Class 036. First Use: 2004/09/20 First Use In Commerce: 2004/09/20 All goods and services in the class are subject to cancellation, namely: FINANCIAL SERVICES, NAMELY, INVESTMENT ADVISORY SERVICES, MANAGEMENT OF INVESTMENT FUNDS; AND FUND INVESTMENT SERVICES Grounds for Cancellation Abandonment Trademark Act Section 14(3) Attachments Petition for Cancellation_DUNE CAPITAL MANAGEMENT_Reg No 3106680_5 14 20 WRS.pdf(249897 bytes ) EXHIBIT A.pdf(971366 bytes ) EXHIBIT B.pdf(738626 bytes ) EXHIBIT C.pdf(1188069 bytes ) EXHIBIT D.pdf(1616597 bytes ) EXHIBIT E.pdf(294341 bytes ) Signature /William R. Samuels/ Name William R. Samuels Date 05/14/2020 UNITED STATES PATENT AND TRADEMARK OFFICE TRADEMARK TRIAL AND APPEAL BOARD In the matter of Registration No. 3106680 Mark: DUNE CAPITAL MANAGEMENT Filed: July 5, 2005 Registered: June 20, 2006 Dune Lake Capital LLC, ) ) Cancellation No. ________ Petitioner ) ) v. ) ) Dune Capital Management LP, ) ) Registrant. ) ) PETITION FOR CANCELLATION Petitioner Dune Lake Capital LLC (“Petitioner”), an entity with a principal place of business at 13 Spotted Dolphin Drive, Santa Rosa Beach, Florida 32459, believes that it is damaged by U.S. Trademark Registration No. 3106680 for the mark DUNE CAPITAL MANAGEMENT (the “Cited Registration”) and hereby petitions to cancel the Cited Registration under the provisions of Section 14(3) of the Lanham Act, 15 U.S.C. § 1064. As grounds for this petition, Petitioner alleges as follows: 1. Petitioner is the owner of U.S. Trademark Application Serial No. 88760339 (“Petitioner’s Application”) filed with the U.S. Patent & Trademark Office on January 15, 2020 for the mark DUNE LAKE CAPITAL LLC, covering the following services in International Class 36: Financial services, namely, a total portfolio offering for high net worth clients consisting of both separate accounts and mutual funds for equity and fixed income investments; Financial services, namely, assisting others with the completion of financial transactions Page 1 of 8 for stocks, bonds, securities and equities; Financial services, namely, coordination, within a single account, of an investment portfolio's maintenance, trading, rebalancing, and tax management needs; Financial services, namely, investment advice, investment management, investment consultation and investment of funds for others, including private and public equity and debt investment services; Financial services, namely, proprietary trading in commodities, securities, options, futures, equities and fixed income products in the United States and overseas market securities; Financial services, namely, the trading of financial instruments, securities, shares, options and other derivative products; Financial services, namely, wealth management services; Financial advice and consultancy services; Financial advisory and consultancy services; Financial analysis and research services; Financial and investment services, namely, management and brokerage in the fields of stocks, bonds, options, commodities, futures and other securities, and the investment of funds of others; Financial and investment services, namely, asset and investment acquisition, consultation, advisory and development; Financial consulting services, namely, advising others regarding intellectual property investments; Financial evaluation, tracking, analysis, forecasting, consultancy, advisory and research services relating to securities and other financial instruments; Financial information and advisory services; Financial planning and investment advisory services; Financial research and information services (collectively, “Petitioner’s Services”). 2. Petitioner has been, and continues to be, damaged in that the Cited Registration has been cited against Petitioner’s Application as a basis for refusal of registration under Trademark Act Section 2(d), 15 U.S.C. § 1052(d). 3. The USPTO records reflect that Dune Capital Management LP (comprised of Dune Capital Management GP LLC), a Delaware limited partnership with a place of business at 623 Fifth Avenue, 30th Floor, New York, NEW YORK 10022 (“Registrant”), is the listed owner of the Cited Registration. 4. On June 20, 2006, Registrant was granted U.S. Trademark Registration No. 3106680 (the Cited Registration) for the mark DUNE CAPITAL MANAGEMENT in International Class 36 for “FINANCIAL SERVICES, NAMELY, INVESTMENT ADVISORY SERVICES, MANAGEMENT OF INVESTMENT FUNDS; AND FUND INVESTMENT SERVICES.” Page 2 of 8 5. On June 13, 2016, Registrant filed a Section 8 Declaration of Use in Commerce and a Section 9 Application for Renewal. On June 13, 2016, Registrant also filed a specimen of use showing use in March 2016 of the mark that is the subject of the Cited Registration. On or around September 2, 2016, the Cited Registration was renewed. The screenshot copied below shows the specimen of use filed in 2016 that is also available through the USPTO database at http://tsdr.uspto.gov/documentviewer?caseId=sn78663992&docId=SPE20160614154813#docIn dex=2&page=1: Page 3 of 8 First Ground for Cancellation: Abandonment Registrant’s Conduct Has Caused DUNE CAPITAL MANAGEMENT to Lose Significance as a Trademark 6. Petitioner incorporates and re-alleges Paragraphs 1 through 5 above as if fully set forth herein. 7. Upon information and belief, Registrant may have ceased to operate after May 2017 after the Chairman and CEO of Registrant, Steven Mnuchin, became involved with the Trump administration and was named Secretary of the Treasury, and subsequently sold Registrant and related businesses. See the web page at https://money.cnn.com/2017/08/08/news/mnuchin-sales-ethics-conflicts/index.html, a printout of which is attached hereto as Exhibit A. 8. There are also two references indicating that Registrant and/or its subsidiary may have been winding down business prior to 2017. For example, see the Forbes.com web page at https://www.forbes.com/sites/katevinton/2016/12/16/why-is-a-defunct-hedge-fund- listed-as-trumps-treasury-secretarys-main-job/#7888bdbc104e, a printout of which is attached here as Exhibit B. As shown in Exhibit B, the Forbes article states, in relevant part: “What the announcement failed to mention is that the firm, Dune Capital Management, a hedge fund that had $2.5 billion in assets in 2006, filed papers with the U.S. securities regulator to shut down in 2013. It’s difficult, if not impossible, to be a premier investment firm today if, as the filing indicates, Dune Capital Management returned funds to investors three years ago.” 9. The transcript of U.S. Senate Hearing 115-214, a hearing of the Senate’s Committee on Finance that occurred on January 19, 2017, included, among other statements, the Page 4 of 8 following short excerpt from the opening statement of U.S. Senator Ron Wyden (from Oregon): In 2004, he spun off a hedge fund of his own, Dune Capital. It was only a few lackluster years before Dune began to wind down its investments in 2008. See page 5 of Exhibit C, a printout of the hearing transcript available at https://www.congress.gov/115/chrg/shrg29928/CHRG-115shrg29928.htm. 10. Exhibit C also indicates that Steven Mnuchin was the Chairman and CEO of Registrant as of the date of the above-referenced Senate hearing, January 19, 2017. See Exhibit C, page 90. 11. In addition, the Mother Jones article available at https://www.motherjones.com/politics/2019/09/donald-trump-has-never-explained-a- mysterious-50-million-chicago-unit-acquisition-loan-is-it-evidence-of-tax-fraud/ includes the following sentence indicating that Registrant may no longer be operating in U.S. commerce: “Fortress declined to comment on the Trump loan. Representatives of Cerberus Capital Management and Dune Real Estate Partners (which took over the business once run by Dune Capital Management) did not respond to requests for comment.” See Exhibit D attached hereto, a printout of the above-referenced article. In other words, Registrant may no longer exist, with its business taken over by Dune Real Estate Partners, and thus Registrant is not using the mark in U.S. commerce. 12. Upon information and belief, Registrant is no longer using the mark that is the subject of the Cited Registration. Page 5 of 8 13. Upon information and belief, Registrant is no longer offering goods or services, in U.S. commerce, under the DUNE CAPITAL MANAGEMENT mark that is the subject of the Cited Registration. 14. Upon information and belief, Registrant cannot show that it is using the mark DUNE CAPITAL MANAGEMENT in U.S. commerce for the services listed in the Cited Registration. 15. Upon information and belief, DUNE CAPITAL MANAGEMENT