From Signal to ChatGPT: Preservation, Privilege and Practical Governance Lessons for Corporate Fiduciaries
June 24, 2026
Publication| Legal Opinions| Transactional Committees| Corporate Transactions| Corporate Governance| Mergers & Acquisitions| Corporate & Chancery Litigation
Recent Delaware decisions provide practical guidance relevant to directors and officers of Delaware corporations who employ two emerging technologies in strategic transaction processes: disappearing instant messages and AI-assisted legal advice. In In re World Wrestling Entertainment Merger Litigation, the Delaware Court of Chancery addressed spoliation of electronically stored information (ESI) under Court of Chancery Rule 37(e) where key deal participants used the instant messaging platform Signal and changed message-retention settings after litigation holds were issued. Other recent decisions, including Fortis Advisors v. Krafton and United States v. Heppner, shed light on the discoverability of generative AI prompts, which may later become part of the evidentiary record and may not necessarily remain private or privileged. These decisions suggest that corporate fiduciaries should assume that both instant messaging platforms and AI chats can become consequential evidence in deal litigation.