Tennant Company Faces Securities Fraud Probe Over ERP Issues

Law firm investigating potential violations after 23% stock plunge

Apr. 17, 2026 at 11:01am

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A close-up photograph of a polished metal sculpture in the shape of a broken gear or cog, resting on a clean, monochromatic background and dramatically lit to convey a sense of disruption and breakdown.A broken corporate gear symbolizes the operational disruptions caused by Tennant's troubled ERP system rollout.NYC Today

Leading securities law firm Bleichmar Fonti & Auld LLP has announced an investigation into Tennant Company (NYSE:TNC) for potential violations of federal securities laws. The investigation focuses on Tennant's implementation and rollout of a new enterprise resource planning (ERP) system, which allegedly caused severe operational disruptions and a 23% drop in the company's stock price.

Why it matters

Tennant's ERP issues and the resulting stock decline raise concerns about the company's transparency and disclosures to investors. The investigation could uncover whether Tennant made false or misleading statements about the progress and impact of the ERP rollout, potentially violating securities laws.

The details

Tennant manufactures industrial cleaning equipment, including floor scrubbers and sweepers used in commercial facilities. BFA is investigating whether Tennant misled investors about the implementation and rollout of its new company-wide ERP system. Tennant had assured investors the project was 'progressing as we've anticipated,' was 'on time and on budget,' and that the Asia-Pacific launch had been 'successful.' 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. This news caused Tennant's stock to drop over 23%, from $82.30 to $63.02 per share.

  • On February 24, 2026, Tennant's stock price dropped 23.4% after the company disclosed issues with its new ERP system.
  • BFA Law is currently investigating Tennant's actions and disclosures related to the ERP rollout.

The players

Tennant Company

A manufacturer of industrial cleaning equipment, including floor scrubbers and sweepers used in commercial facilities.

Bleichmar Fonti & Auld LLP

A leading international law firm representing plaintiffs in securities class actions and shareholder litigation.

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What’s next

BFA Law is currently investigating Tennant's actions and disclosures related to the ERP rollout. Investors who lost money are encouraged to contact the firm to discuss their legal options.

The takeaway

Tennant's ERP issues and the resulting stock decline highlight the importance of transparency and accurate disclosures, especially when it comes to major technology projects that can significantly impact a company's operations and financial performance.