A public filing with the Securities and Exchange Commission indicated that former New Leaf Tea COO Bill Sipper resigned from the company following allegations that he had acted improperly toward a female subcontractor during a recent trade show.
Sipper’s resignation was effective Dec. 31 and the company is currently negotiating the full terms of the resignation, according to the filing, which was posted today.
“I categorically deny the allegation. It’s completely baseless,” Sipper told BevNET.
According to the filing, New Leaf has received correspondence that implies liability on the part of the company in the case, as well as Sipper. The company denied that implication in the filing, saying “the alleged incident is unrelated to his role as Chief Operating Officer.”
New Leaf CEO Eric Skae would not comment on the allegation or the filing.
New Leaf is required to tell its insurance carriers about the claim, although it does not yet know the extent of its coverage, according to the filing. The filing, called an 8-K, is an SEC requirement for publicly traded companies to apprise shareholders of important events, such as when a senior officer leaves.