A launch device having a front cover connectable to the output of a prime mover, an output hub connectable to the input of the transmission, an impeller driven in rotation with the front cover and a turbine fluidly coupled in rotation with the impeller. A damper includes an output member connected to and rotatable with the output hub. A lock-out clutch, when engaged, rotationally locks the damper with the front cover and includes a clutch piston which is axially and rotationally moveable relative to the output hub. A mechanical clutch piston positioner includes first and second interfaces individually associated with either the clutch piston or one of the output member or output hub. The first interface is axially and rotationally moveable relative to the second interface. Upon the first interface overrunning tire second interface, mechanical engagement of the interfaces axially positions tire clutch piston toward the front cover.