Investors Seek Lead in Trip.com Monopoly Probe Class Action

Hagens Berman investigating claims that Trip.com misled investors about AI pricing tool

Apr. 10, 2026 at 8:45pm by

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A minimalist studio photograph featuring a sleek laptop computer, financial documents, and a magnifying glass arranged on a clean, monochromatic background, symbolizing the abstract concepts of corporate strategy, finance, and regulatory risk.A photorealistic still life captures the tension between technology, finance, and regulatory oversight in the wake of the Trip.com antitrust investigation.San Francisco Today

A securities class action lawsuit has been filed against China's largest online travel agency, Trip.com Group (NASDAQ: TCOM), seeking to represent investors who purchased Trip.com securities between April 30, 2024 and January 13, 2026. The lawsuit alleges Trip.com misled investors about the regulatory risks of its AI-powered hotel pricing tool, which regulators say enabled anticompetitive practices.

Why it matters

The investigation and class action lawsuit come after Trip.com's stock price plunged 17% in a single day when the company disclosed a regulatory probe into potential antitrust violations. The case highlights growing scrutiny of Big Tech's market dominance and use of algorithms to gain unfair advantages.

The details

The lawsuit claims Trip.com repeatedly touted its AI price adjustment tool as a 'cornerstone' of its strategy, assuring investors its disclosure controls were effective. However, the complaint alleges these statements misled investors by understating the regulatory risks of Trip.com's monopolistic business practices. In late 2025, reports emerged that the price adjustment tool allowed Trip.com to undercut competitors and 'force participation in promotions' by hotel partners. Regulators then launched an investigation under China's Anti-Monopoly Law, leading to Trip.com's stock crash on January 14, 2026.

  • In late November 2025, reports surfaced that Trip.com's hotel partners were losing pricing autonomy.
  • On January 14, 2026, Trip.com revealed it was under investigation by Chinese regulators for potential antitrust violations.
  • On February 26, 2026, Trip.com's co-founders abruptly resigned from the company's board.
  • On March 8, 2026, Trip.com announced it would shut down its automated hotel pricing tool to 'curb price wars' with hotel partners.

The players

Trip.com Group

China's largest online travel agency and the subject of a securities class action lawsuit.

Hagens Berman

A national shareholders rights firm leading the investigation into whether Trip.com violated federal securities laws.

Reed Kathrein

The Hagens Berman partner overseeing the firm's investigation into Trip.com.

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What they’re saying

“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.”

— Reed Kathrein, Partner, Hagens Berman

What’s next

The judge in the case will decide on whether to allow the class action lawsuit to proceed.

The takeaway

This case highlights the growing regulatory scrutiny of Big Tech's use of algorithms and data-driven tools to gain unfair market advantages, even in industries like online travel where consumers expect convenience and competitive pricing.