Ademi LLP is investigating Booking Holdings (NASDAQ: BKNG) for possible breaches of fiduciary duty.
Spain's anti-trust authorities fined Booking.com €413.2 million ($448 million) for abusing its dominant market position for the last five years. The Spanish regulator, CNMC, said that Booking.com had since 2019 been taking advantage of its 70%-90% market share to impose unfair conditions on hotels, and restricted competition from other providers.
We are investigating whether the Booking Holdings board of directors violated their fiduciary duties to shareholders.