ELMO (ASX:ELO)’s disappointing Supreme Court decision revealed

ELMO Software Ltd (ASX: ELO) shares were on the rise today despite news circulating that the software developer has suffered a setback in a New South Wales Supreme Court case. By the market’s close, the ELMO share price was trading at $5.23, up 3.16%.

In comparison, the All Ordinaries Index (ASX: XAO) closed down 0.63%.

Let’s take a closer look at the Supreme Court decision.

What did the Supreme Court decide? 

The Elmo share price finished in the green today despite news spreading that, in an interim decision before the final hearing, the NSW Supreme Court placed a temporary injunction against David McMurchy and Arumugam Kumaran from…