•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
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 decline in Trip.com American Depositary Shares on January 14, 2026, after the company disclosed that it is the subject of a regulatory investigation in China under the Anti-Monopoly Law of the People’s Republic of China.
According to the complaint, the market reaction was swift after Trip.com announced it “received a notice of investigation” from the State Administration for Market Regulation of the People’s Republic of China (SAMR) and that SAMR “has commenced an investigation involving the Company pursuant to the Anti-Monopoly Law of the People’s Republic of China.”
On January 14, 2026, Trip.com American Depositary Shares fell $12.90, or 17%, wiping out more than $8 billion of market capitalization in a single day.
The lawsuit also alleges that Trip.com misled investors about the regulatory risk associated with its business practices. The complaint points to Trip.com’s prior statements about its AI price adjustment tool, which automatically lowers hotel rates on its platform when higher prices are detected elsewhere.
In the past, Trip.com described its AI approach as “a cornerstone of our long-term strategy” and said its disclosure controls and procedures were effective. The complaint alleges these assurances were misleading because the company allegedly understated regulatory risk related to monopolistic conduct.
The complaint states that investors began to learn more by late November 2025, when financial press reports said hotel merchants partnering with Trip.com experienced reduced pricing autonomy. It also alleges that 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.
After the class period, Trip.com announced on February 26, 2026, without explanation, that its co-founders resigned abruptly from the company’s board, effective the day before.
On March 8, 2026, pandaily reported that Trip.com would shut down its automated hotel AI price adjustment tool on March 10, aiming to curb price wars and restore pricing autonomy for hotel partners. The report also said several hotel partners claimed the system scanned competitors’ prices and forced price reductions on their own listings, which some described as “one-sided coercion.”
Reed Kathrein of Hagens Berman, the partner leading the investigation, said: “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.”
The class period is April 30, 2024 through January 13, 2026. The lead plaintiff deadline is May 11, 2026.
The filing also references 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.
Hagens Berman is listed as the firm pursuing the matter. Contact details provided include TCOM@hbsslaw.com and 844-916-0895.
Premium gym chains are entering a “golden era” that is ending or already in decline, as rising operating costs collide with shifting consumer preferences toward more flexible, community-based ways to exercise. Long-term memberships are shrinking, margins are pressured by higher rents and facility expenses, and competition from smaller, more personalized…
