A securities class action has been filed against Trip.com Group (NASDAQ: TCOM) on behalf of investors who purchased Trip.com securities between April 30, 2024 and January 13, 2026.

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 follows the 17% decline in the price of Trip.com American Depositary Shares on January 14, 2026. The selloff, which wiped out billions of dollars of the company's market capitalization, was triggered by the company's announcement that it is the subject of an investigation by regulators in China pursuant to the Anti-Monopoly Law of the People's Republic of China.

The development and severe market reaction have prompted national shareholders rights firm Hagens Berman to commence an investigation into whether Trip.com violated the federal securities laws, as alleged in the complaint.

Trip.com Group Limited (TCOM) Securities Class Action: 

In the past, Trip.com repeatedly touted its AI price adjustment tool, calling its AI approach "a cornerstone of our long-term strategy" and assured investors that its disclosure controls and procedures were effective. The company's price adjustment tool automatically lowers hotel rates on its platform when detecting higher prices elsewhere.

The complaint alleges that these and other assurances misled investors because Trip.com materially understated the regulatory risk the company faced for its monopolistic business conduct.

Investors began to learn the truth by late November 2025, when the financial press reported that hotel merchants partnering with Trip.com reported losing pricing autonomy under the company's platform. In addition, regulators scrutinizing the company reportedly identified the price adjustment tool as enabling Trip.com to force participation in promotions, undercut competitors, and penalize non-compliant merchants with reduced visibility or delisting.

Then, on January 14, 2026, Trip.com revealed it "received a notice of investigation from the State of Administration for Market Regulations of the People's Republic of China (the 'SAMR')[]" and "the SAMR has commenced an investigation involving the Company pursuant to the Anti-Monopoly Law of the People's Republic of China."

The market reacted swiftly, sending the price of Trip.com American Depositary Shares down $12.90 (-17%), wiping out over $8 billion of market capitalization in a single day.

After the Class Period, on February 26, 2026, Trip.com announced with no explanation that its co-founders abruptly resigned from the company's board, effective the day before.

Then, on March 8, 2026, pandaily reported that "Trip.com will shut down its automated hotel AI price adjustment tool on March 10, aiming to curb price wars and restore pricing autonomy for hotel partners." In addition, the article said "[s]everal hotel partners claimed the system automatically scanned competitors' prices and forced price reductions on their own listings, a practice some describe as 'one-sided coercion.'"

"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, the Hagens Berman partner leading the firm's investigation.

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