SAN FRANCISCO, March 27, 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
