We expect 2026 to be another active year for antitrust class actions. Beyond the holdover cases from prior years, class action plaintiffs will file new cases in 2026. Like prior years, we expect some of those cases will press novel theories under the antitrust laws, while others will advance more traditional theories.
Specifically, with the continued proliferation of artificial intelligence and machine learning, there will likely be additional cases related to the exchange of information and the use of information in algorithmic price fixing.
The Trump administration’s antitrust enforcement efforts will also impact class action litigation trends because the two operate cyclically. Where there is a government-led antitrust enforcement action, there is almost surely an accompanying private case, most often styled as a class action. In recent years, we have seen that trend work in the opposite direction as well, where the class action plaintiffs’ bar is leading the charge in a particular area, and the government enforcers follow on with their own case.
The second Trump administration outlined its antitrust enforcement goals, and made commitments to continue vigorous enforcement with a focus on tech-related issues. Much of the enforcement activity appears to be largely consistent with the efforts undertaken by the Biden administration. A new and notable area that the second Trump administration identified for potential enforcement relates to potential “collusion or unlawful coordination on DEI metrics” in labor markets. Another area of active enforcement relates to environmental, social, and governance (“ESG”) initiatives. Specifically, coalitions of state attorneys general have launched lawsuits targeted at companies for ESG efforts. For example, there is active litigation filed by ten states against a series of investment banks alleging that through their investments into certain coal companies, they have attempted to decrease the output of coal production. Enforcement actions targeted at this type of conduct could lead to class actions consistent with what happened when the first criminal enforcement actions were brought in relation to the naked no-poach and wage-fixing agreements during the first Trump administration.
In the event there are any areas where the Trump administration is perceived as being less focused, companies should not assume their antitrust litigation risk is substantially lessened. In areas where federal enforcement has tapered off, we have historically observed an uptick in both private class actions and state-led antitrust enforcement efforts.
Companies should pay close attention to the resolution of pending antitrust cases, particularly those with claims related to the exchange of information and/or the use of algorithms. Additionally, we expect the enforcement efforts of both the Trump administration and various state attorneys general to further develop, which could parlay into additional class action litigations. Tracking those developments will identify where companies should be focused in terms of potential antitrust liability, both from federal enforcement actions and class action litigation