REUTERS - Mar 25 - Cupid rejected as "misrepresentation and ill-informed speculation" media allegations about its methods to encourage people to buy subscriptions, sending its shares up as much as 79%. The shares fell 60% on Friday in response to the statement. Up to Friday's close, the stock had fallen 64% since the BBC report on Feb. 24. Ukraine newspaper Kyiv Post published an article on March 15 that said Cupid had hired "motivation managers" to encourage people to buy full subscriptions. Cupid said that the managers' job was to monitor and interrogate its websites to detect technical or product issues and to moderate chat rooms and forums. They do not communicate with free members, it said.
by Richa Naidu
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