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

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

  • 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…
  • 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 beginning employment with Breathe – a wholly-owned subsidiary of ELMO…
  • McMurchy and Kumaran are ex-employees of UK based Peninsula Group company Employsure, and were to join Breathe in the roles of sales manager and sales representative respectively…
  • Employsure took the matter to court in January, claiming both employees were contractually bound to not seek employment with a competitor…
  • Employsure also indicated it is highly likely to begin proceedings against a third employee, who is planning a move to ELMO…
  • Words from the parties The decision vindicates Employsure efforts to protect its legitimate business interests, particularly relating to its software product Bright, which were being threatened by the ex-employees and ELMO, despite requests for them to refrain from doing so….

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