Tennant Investigation Overview
BFA is investigating whether Tennant violated the federal securities laws by making false and misleading statements to investors regarding Tennant’s implementation and rollout of its new large-scale ERP system. Investors may be able to file a securities fraud class action to potentially recover losses.
If you lost money on your Tennant investment, you are encouraged to submit your information using the form on this page. You may also email adam@bfalaw.com or call 212.789.3619.
Why is Tennant being investigated for Securities Fraud?
Tennant is being investigated for violations of the federal securities laws following a significant stock drop. The decline in Tennant’s stock price caused significant losses to investors.
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 insisting 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.
Tennant (TNC) Stock Chart
Image Caption: NYSE online chart showing the Tennant (TNC) stock drop following the February 2026 announcement.
How Do I Submit My Information?
If you lost money when Tenant securities dropped in price, you are encouraged to submit your information using the form on this page to speak with an attorney about your rights.
You can also contact:
Adam McCall
adam@bfalaw.com
212.789.3619
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 the class action lawsuit. The firm will seek court approval for any potential fees and expenses.
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.
BFA 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.
BFA’s notable successes include a recovery of over $900 million in value from Tesla, Inc.’s Board of Directors, as well as $420 million from Teva Pharmaceutical Ind. Ltd.
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