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Tennant Company Faces Securities Fraud Probe Over ERP System Rollout
Investors with losses urged to contact BFA Law as firm investigates potential violations of federal securities laws.
Apr. 1, 2026 at 10:33am
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Leading securities law firm Bleichmar Fonti & Auld LLP has announced an investigation into Tennant Company (NYSE: TNC) for potential violations of federal securities laws related to the implementation and rollout of the company's new enterprise resource planning (ERP) system. The investigation follows a 23.4% stock drop on February 24, 2026, after Tennant revealed severe operational disruptions and financial losses from the ERP system launch in North America.
Why it matters
Tennant's ERP system issues highlight the risks companies face when implementing large-scale technology projects, especially if they provide misleading information to investors about the progress and impact of the rollout. The investigation could result in a class action lawsuit, which could lead to significant financial penalties and reputational damage for Tennant.
The details
BFA Law is investigating whether Tennant made false and misleading statements to investors about the implementation and rollout of its new ERP system. The firm alleges that Tennant assured investors the project was 'progressing as we've anticipated,' was 'on time and on budget,' and that the launch in Asia-Pacific had been 'successful' with 'mitigated disruptions and stabilized operations.' However, on February 24, 2026, Tennant revealed the North American ERP rollout caused severe operational disruptions, including an inability to process and ship customer orders, resulting in $30 million in lost sales and over $20 million in remediation costs for 2026.
- On February 24, 2026, Tennant's stock price dropped 23.4% after the company disclosed issues with its new ERP system rollout.
- Tennant had previously assured investors the ERP project was 'progressing as we've anticipated,' 'on time and on budget,' and the Asia-Pacific launch was 'successful.'
The players
Tennant Company
A manufacturer of industrial cleaning equipment, including large mechanical floor scrubbers and sweepers used in warehouses, retail stores, and other commercial facilities.
Bleichmar Fonti & Auld LLP
A leading international law firm representing plaintiffs in securities class actions and shareholder litigation.
What’s next
BFA Law is urging investors who have lost money due to Tennant's ERP system issues to contact the firm to discuss their legal options. The firm will seek court approval for any potential fees and expenses, and shareholders will not be responsible for any court costs or litigation expenses.
The takeaway
This investigation highlights the importance of companies being transparent and truthful with investors, especially when implementing major technology projects that can significantly impact operations and financial performance. Tennant's alleged misleading statements about the ERP rollout could result in serious legal consequences if the securities fraud claims are proven.
