Company Announcements

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 19, 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