Trip.com (TCOM) Securities Class Action, AI Pricing Tool and China Anti-Monopoly Probe — Investors Have Until May 11 to Act

URGENT: The lead plaintiff deadline in this case is May 11, 2026 — two days from the date of this article. Investors with significant losses should contact a securities attorney immediately.

Prepared by the AllAboutLawyer.com Editorial Team and reviewed for factual accuracy against Hagens Berman’s press releases, the Levi & Korsinsky investor alert dated March 25, 2026, and the Trip.com SEC Form 6-K filing dated January 14, 2026. Last Updated: May 9, 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 accuses Trip.com of misleading investors about its AI hotel pricing tool and concealing the regulatory risk it faced in China — risks that became public on January 14, 2026, when the company’s shares collapsed 17% in a single day. The lead plaintiff deadline to take control of this case is May 11, 2026.

Trip.com TCOM Securities Lawsuit — Quick Facts

Field	Detail
Defendant	Trip.com Group Limited (NASDAQ: TCOM); CEO Jane Jie Sun; CFO Cindy Xiaofan Wang
Case Name	De Wilde v. Trip.com Group Limited, et al., Case No. 26-cv-01420
Court & Jurisdiction	U.S. District Court, Eastern District of New York
Alleged Violation	Securities Exchange Act of 1934, Section 10(b) and Rule 10b-5 — securities fraud
Class Period	April 30, 2024 – January 13, 2026
⚠️ Lead Plaintiff Deadline	May 11, 2026 — 2 days away
Share Price Drop	17% on January 14, 2026; additional 2.35% the following day
Trigger Event	China’s State Administration for Market Regulation (SAMR) anti-monopoly investigation announced January 14, 2026
Lead Law Firm (Hagens Berman)	844-916-0895 / [email protected] / hbsslaw.com/investor-fraud/tcom
Lead Law Firm (Levi & Korsinsky)	zlk.com/cases/trip-com-group-limited-class-action-lawsuit-tcom
Settlement Status	None — active litigation, early stage
Last Updated	May 9, 2026

Current Status — Act Now If You Lost Money on TCOM

• The securities class action against Trip.com is active. No settlement has been reached and no claim form is available.
• The lead plaintiff deadline is May 11, 2026. This is the last day any investor can apply to serve as the lead plaintiff — the investor who directs the litigation and negotiates on behalf of the class. After this date, you can still participate as a class member, but you lose the right to lead the case.
• Multiple law firms are pursuing this case simultaneously, including Hagens Berman Sobol Shapiro LLP, Levi & Korsinsky LLP, and Kahn Swick & Foti LLC.
• Trip.com has stated it will cooperate with the SAMR investigation. The company has not admitted any wrongdoing.

What Is the Trip.com TCOM Lawsuit About? De Wilde v. Trip.com Group Limited, Case No. 26-cv-01420

Trip.com is China’s dominant online travel platform, operating across hotel booking, airline ticketing, and package tours. During the class period — from April 30, 2024 through January 13, 2026 — the company publicly promoted its AI hotel price adjustment tool as a strategic asset and assured investors that its disclosure controls were effective.

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 complaint alleges that was not the full story.

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.

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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.” Several hotel partners claimed the system automatically scanned competitors’ prices and forced price reductions on their own listings, a practice some described as “one-sided coercion.”

The moment that destroyed billions in market value came earlier — on January 14, 2026. Trip.com revealed it had received a notice of investigation from the State Administration for Market Regulations of the People’s Republic of China (SAMR), confirming the SAMR had commenced an investigation pursuant to China’s Anti-Monopoly Law.

Trip.com ADSs plunged $12.90 per share (17.05%) on January 14, 2026, with an additional $1.48 per share (2.35%) decline the following day. The complaint argues that all of this was foreseeable — and that Trip.com’s leadership knew or should have disclosed the escalating regulatory risk long before that crash.

Months before the formal SAMR investigation announcement, regional regulators in Guizhou and Zhengzhou had already summoned Trip.com and other travel platforms over antitrust concerns. The lawsuit alleges investors never received that material information. For context on how securities class actions like this one typically develop, see our earlier coverage of the Rivian $250 million securities settlement.

Are You Part of the Trip.com Class Action?

This is an investor lawsuit — not a consumer class action. It is for people who bought Trip.com stock or American Depositary Shares (ADS) on a U.S. exchange during the class period and lost money when the share price fell.

You may be part of this class if:

• You purchased Trip.com Group Limited (NASDAQ: TCOM) securities — including ADS — between April 30, 2024 and January 13, 2026
• You suffered financial losses when the share price dropped on or after January 14, 2026
• You relied on Trip.com’s public statements and SEC filings when making your investment decision

You are likely NOT included if:

• You sold your TCOM shares before January 14, 2026 at a profit or at a price that avoided the drop
• You purchased your shares after January 13, 2026
• You purchased Trip.com shares only on Chinese exchanges, not through U.S.-listed ADS

You do not need to have lost a specific minimum dollar amount to be a class member — though law firms typically prioritize investors with losses above $50,000 for lead plaintiff consideration. Participation as a standard class member requires no action right now beyond preserving your brokerage records.

What Is a Lead Plaintiff and Why Does the May 11 Deadline Matter?

In federal securities class actions, the lead plaintiff is the investor — or group of investors — who directs the litigation. They choose the attorneys, approve any settlement, and take an active role in the case on behalf of all class members. The complaint targets Trip.com Group Limited, Chief Executive Officer Jane Jie Sun, and Chief Financial Officer Cindy Xiaofan Wang for allegedly misleading investors about the regulatory threats facing the company.

Under the Private Securities Litigation Reform Act (PSLRA), any investor who wants to apply for lead plaintiff status must do so on or before the 60-day deadline from the first published notice — in this case, May 11, 2026. After that date, the court will select a lead plaintiff from those who applied.

If you do not apply for lead plaintiff by May 11, you can still participate in any future settlement as a standard class member — but you give up the right to direct the case. For an investor who lost $100,000 or more, applying for lead plaintiff status is worth a conversation with a securities attorney. That consultation is free. For a comparison of how lead plaintiff roles played out in another major investor lawsuit, see our coverage of the Hasbro securities fraud class action.

What Should You Do Right Now?

Step 1 — Gather your brokerage records immediately. Pull every trade confirmation, account statement, and transaction history for TCOM shares purchased between April 30, 2024 and January 13, 2026. You will need these to document your losses.

Step 2 — Calculate your losses. Your loss is generally the difference between what you paid for TCOM shares and what they were worth after the January 14, 2026 disclosure — subject to the court’s plan of allocation.

Step 3 — Contact a securities attorney before May 11. If you lost significant money, call or email one of the firms pursuing this case today. The consultation is free and carries no obligation:

• Hagens Berman: 844-916-0895 | [email protected] | hbsslaw.com/investor-fraud/tcom
• Levi & Korsinsky: zlk.com/cases/trip-com-group-limited-class-action-lawsuit-tcom
• Kahn Swick & Foti / ClaimsFiler: 844-367-9658 | claimsfiler.com/cases/nasdaq-tcom

Step 4 — If you do not apply for lead plaintiff, do nothing yet. Standard class members do not need to file any form now. If the case settles, the court will require Trip.com to notify eligible investors and open a claims process.

Step 5 — Monitor this case. Check the Eastern District of New York docket for Case No. 26-cv-01420 and return to AllAboutLawyer.com for updates as the litigation develops.

Trip.com TCOM Lawsuit Timeline

Milestone	Date
Class period begins	April 30, 2024
Regional regulators in Guizhou and Zhengzhou summon Trip.com	Before January 2026
Class period ends	January 13, 2026
Trip.com discloses SAMR anti-monopoly investigation	January 14, 2026
TCOM ADS drops 17.05% ($12.90/share)	January 14, 2026
TCOM ADS drops additional 2.35% ($1.48/share)	January 15, 2026
Securities class action complaint filed	April 1, 2026
Trip.com shuts down AI hotel pricing tool	March 10, 2026
⚠️ Lead plaintiff application deadline	May 11, 2026
Class certification motion	TBD
Expected settlement timeline	TBD — active litigation

Frequently Asked Questions

Is there a class action lawsuit against Trip.com? 

Yes. De Wilde v. Trip.com Group Limited, et al., Case No. 26-cv-01420, is pending in the U.S. District Court for the Eastern District of New York. The lawsuit was filed under the Securities Exchange Act of 1934 and targets Trip.com, its CEO, and its CFO for allegedly misleading investors about the company’s regulatory exposure in China.

Do I need to do anything right now to be included as a class member?

 Not yet — unless you want to apply to be the lead plaintiff, in which case the deadline is May 11, 2026. Standard class members can wait. If the case settles, a court-supervised notice and claims process will notify eligible investors.

When will a settlement be reached in the Trip.com case? 

It is too early to say. The complaint was filed in April 2026. Securities class actions typically take two to four years from filing to resolution. The SAMR investigation in China is also ongoing, and its outcome could affect the U.S. litigation.

Can I file my own lawsuit against Trip.com for my investment losses instead?

 You can opt out of the class action to pursue individual litigation, but that requires hiring your own securities attorney and bearing the cost of litigation. For most retail investors, participating in the class action is the practical path. Contact a securities attorney to evaluate which approach fits your situation.

How will I know if the Trip.com case settles?

 If a settlement is reached, the court will require Trip.com to send notice to eligible investors through a court-appointed administrator. Notices typically come by mail and email. This page will be updated with claim information when any settlement is announced.

What did Trip.com allegedly hide from investors?

 The complaint alleges Trip.com framed anti-monopoly risk in vague, conditional language in its SEC filings — saying its business “could” be adversely affected — while enforcement activity against it was already actively escalating. Regional regulators had already summoned Trip.com before the formal SAMR announcement, a fact the lawsuit says was never disclosed to investors.

What is an ADS and do I qualify if I bought one?

 An American Depositary Share (ADS) is a U.S.-listed security representing ownership in a foreign company. Trip.com trades on NASDAQ as TCOM. If you bought TCOM shares or ADS through a U.S. brokerage between April 30, 2024, and January 13, 2026, you are potentially within the class.

Sources & References

• Hagens Berman press releases: April 1, 2026 through May 8, 2026 (PR Newswire and GlobeNewswire)
• Levi & Korsinsky investor alert: March 25, 2026 (PR Newswire)
• ClaimsFiler / Kahn Swick & Foti alert: May 7, 2026 (GlobeNewswire)
• Trip.com SEC Form 6-K, January 14, 2026: sec.gov
• Case: De Wilde v. Trip.com Group Limited, et al., Case No. 26-cv-01420, U.S. District Court for the Eastern District of New York

Disclaimer: This article is for informational purposes only and does not constitute legal advice. Legal claims and outcomes depend on specific facts and applicable law. Investors should consult a qualified securities attorney regarding their particular situation and losses.