Canadian online gambling operator Intertain Group is looking for a new CEO following the release of an independent review of the company’s activities.

On Monday, the Toronto-listed Intertain announced the completion of its Independent Committee review, which was launched following the December release of a report by “self-described short-seller” Spruce Point Capital Management.

Spruce Point’s report criticized lucrative incentive payments to Intertain’s two top executives and effectively suggested Intertain was a Ponzi scheme that was misleading shareholders regarding the company’s underlying performance and future earn-out obligations related to its numerous acquisitions. The report triggered a massive sell-off of Intertain shares, which lost one-third of their value before trading was temporarily suspended.

Intertain appointed an independent committee to investigate Spruce Point’s allegations, and announced earlier this month that the committee had found “no basis for concern” in the report’s claims.