Tennant Company

BFA Law is investigating Tennant Company after its stock plummeted 23% due to issues with its ERP system, potentially violating federal securities laws.

NEW YORK, March 24, 2026 /PRNewswire/ -- Leading securities law firm Bleichmar Fonti & Auld LLP announces an investigation into Tennant Company (NYSE:TNC) for potential violations of the federal securities laws.  

If you invested in Tennant, you are encouraged to obtain additional information by visiting: https://www.bfalaw.com/cases/tennant-company-class-action-lawsuit.

Key Details of the Tennant ($TNC) Class Action Investigation:

• Investigation Overview: Securities fraud related to Tennant's implementation and rollout of its new, company-wide enterprise resource planning ("ERP") system
• Stock Decline: February 24, 2026 – 23.4% Stock Drop
• Action: Contact BFA Law to discuss your rights

Why is Tennant Being Investigated for Securities Fraud?

Tennant manufactures industrial cleaning equipment, including large mechanical floor scrubbers and sweepers used in warehouses, retail stores, and other commercial facilities.

BFA is investigating whether Tennant made false and misleading statements to investors regarding the implementation and rollout of a large-scale ERP system. For instance, Tennant assured investors the project was "progressing as we've anticipated," was "on time and on budget," and that the launch of the ERP in its Asia-Pacific region had been "successful," with Tennant stating it had "mitigated disruptions and stabilized operations."

Why did Tennant's Stock Drop?

On February 24, 2026, Tennant revealed that the rollout of its new ERP system in North America caused severe operational disruptions, including that it was unable to process and ship customer orders following the launch of the system.  As a result, Tennant lost roughly $30 million in sales and would need to spend more than $20 million in 2026 to remediate the issues, compared to roughly $5 million the company had planned to spend.  

This news caused the price of Tennant stock to drop $19.28 per share, more than 23%, from a closing price of $82.30 per share on February 23, 2026, to $63.02 per share on February 24, 2026.

Click here for more information: https://www.bfalaw.com/cases/tennant-company-class-action-lawsuit.

What Can You Do?

If you invested in Tennant, you may have legal options and are encouraged to submit your information to the firm.

All representation is on a contingency fee basis; there is no cost to you. Shareholders are not responsible for any court costs or expenses of litigation. The firm will seek court approval for any potential fees and expenses.

Submit your information by visiting:

https://www.bfalaw.com/cases/tennant-company-class-action-lawsuit

Why Bleichmar Fonti & Auld LLP?

BFA is a leading international law firm representing plaintiffs in securities class actions and shareholder litigation. It has been named a top plaintiff law firm by Chambers USA, The Legal 500, and ISS SCAS, and its attorneys have been named "Elite Trial Lawyers" by the National Law Journal, "Litigation Stars" by Benchmark Litigation, among the top "500 Leading Plaintiff Financial Lawyers" by Lawdragon, "Titans of the Plaintiffs' Bar" by Law360 and "SuperLawyers" by Thomson Reuters. Among its recent notable successes, BFA recovered over $900 million in value from Tesla, Inc.'s Board of Directors, as well as $420 million from Teva Pharmaceutical Ind. Ltd.

For more information about BFA and its attorneys, please visit https://www.bfalaw.com.

https://www.bfalaw.com/cases/tennant-company-class-action-lawsuit

Attorney advertising. Past results do not guarantee future outcomes.

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SOURCE Bleichmar Fonti & Auld LLP

SAN FRANCISCO, March 20, 2026 /PRNewswire/ -- On February 24, 2026, investors saw the price of Tennant Company (NYSE: TNC) crater $19.28 (-23%) after the company revealed significant problems with its new Enterprise Resource Planning ("ERP") system in North America.

The surprise development and severe market reaction have prompted national shareholders rights firm Hagens Berman to investigate whether Tennant violated the federal securities laws.

The firm urges investors in Tennant who suffered significant losses to submit your losses now. The firm also encourages witnesses who may be able to assist in the investigation to contact its attorneys.

Visit: www.hbsslaw.com/investor-fraud/tnc

Contact the Firm Now: TNC@hbsslaw.com

                                        844-916-0895

Tennant Company (TNC) Investigation:

The investigation is focused on the propriety of Tennant's disclosures about the progress of its efforts to modernize its North America ERP system and related challenges, if any.

As recently as November 4, 2025, Tennant touted the success of its Asia Pacific ERP modernization and instilled confidence in investors about its North America ERP system modernization. At the time, the company was well into its fourth quarter.

Investors' expectations were dashed on February 24, 2026, when Tennant reported dismal Q4 and FY 2025 financial results.

The company's GAAP net income for 2025 came in at just $43.8 million, a whopping year-over-year decrease of about 47%. Worse, during Q4 2025, Tennant sustained a net loss that was 166% downward move from its net income for the year earlier period.

During the related earnings call, management revealed that during the first week of November the North America ERP go-live "introduced severe functionality issues that limited our ability to enter orders, ship products, and service our customers." Management further said, "[i]n North America, we lost three, four weeks of machine order entry and parts shipping capability."

Tennant management quantified the adverse financial impact: "[t]hese dynamics, combined with our limited ability to operate plants at normal capacity, resulted in an estimated $30 million impact on net sales." Management also revealed that the Q4 challenges will continue into early 2026.

The market swiftly reacted, erasing about $343 million of Tennant's market capitalization.

"We're investigating precisely when Tennant knew of serious problems with its North America ERP and whether it may have concealed information crucial to investors' decisions," said Reed Kathrein, the Hagens Berman partner leading the investigation.

If you invested in Tennant and have substantial losses, or have knowledge that may assist the firm's investigation, submit your losses now »

If you'd like more information and answers to frequently asked questions about the firm's Tennant investigation, read more »

Whistleblowers: Persons with non-public information regarding Tennant should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email TNC@hbsslaw.com.

About Hagens Berman

Hagens Berman is a global plaintiffs' rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman's team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw. 

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SOURCE Hagens Berman Sobol Shapiro LLP