Securities Class Action Filed Against Trip.com Group Over AI Pricing Tool and SAMR Anti-Monopoly Investigation

A securities class action lawsuit has been filed against Trip.com Group (NASDAQ: TCOM), China’s largest online travel agency, seeking to represent investors who purchased Trip.com securities between April 30, 2024 and January 13, 2026. The filing follows a sharp market decline on January 14, 2026, when Trip.com American Depositary Shares fell 17% after the company disclosed it is the subject of a regulatory investigation in China under the Anti-Monopoly Law.

Trigger for the lawsuit

The complaint cites Trip.com’s announcement that it received a notice of investigation from the State Administration for Market Regulations of the People’s Republic of China (SAMR). The market reaction was immediate: the shares dropped $12.90 (-17%) in a single day, wiping out over $8 billion of market capitalization.

Allegations involving Trip.com’s AI pricing tool

The lawsuit also points to Trip.com’s prior public statements about its AI price adjustment tool. The company described its AI approach as a “cornerstone” of its long-term strategy and asserted that its disclosure controls and procedures were effective.

According to the complaint, the tool automatically lowers hotel rates on Trip.com’s platform when it detects higher prices elsewhere. The complaint alleges that these assurances misled investors by understating the regulatory risk associated with Trip.com’s alleged monopolistic business conduct.

What investors reportedly learned before the investigation

Investors began to learn more about the alleged conduct in late November 2025, after financial press reports said hotel merchants partnering with Trip.com experienced reduced pricing autonomy. The reports also said regulators identified the price adjustment tool as enabling Trip.com to:

• force participation in promotions;
• undercut competitors; and
• penalize non-compliant merchants through reduced visibility or delisting.

Subsequent developments

After the class period, on February 26, 2026, Trip.com announced that its co-founders resigned from the company’s board, effective the day before, without providing an explanation.

On March 8, 2026, pandaily reported that Trip.com plans to shut down its automated hotel AI price adjustment tool on March 10. The report said the change is intended to curb price wars and restore pricing autonomy for hotel partners. It also cited claims by several hotel partners that the system scanned competitors’ prices and forced price reductions on their listings, which some described as one-sided coercion.

Firm’s investigation and investor deadline

“We’re investigating whether Trip.com may have misled investors about the true purpose of its AI pricing tool and the sustainability of its business model without it,” said Reed Kathrein, a partner at Hagens Berman leading the firm’s investigation.

The firm is seeking to represent investors who purchased Trip.com American Depository Shares during the class period of Apr. 30, 2024 – Jan. 13, 2026. The lead plaintiff deadline is May 11, 2026.

The firm urged investors with significant losses to submit their claims and said it is also seeking information from individuals with non-public knowledge that may assist the investigation.

Whistleblower note

The article also referenced the SEC whistleblower program, stating that whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC.

Lead Plaintiff Deadline: May 11, 2026
Class Period: Apr. 30, 2024 – Jan. 13, 2026
Contact: Reed Kathrein, 844-916-0895, or email [email protected]