Elevation Oncology Inc. has agreed to be acquired by Concentra Biosciences for $0.36 per share in cash plus a contingent value right (CVR). The acquisition aims to address the challenges faced by struggling biotech companies, often referred to as 'zombie' biotechs. The deal has attracted attention from investor activism circles and legal scrutiny. Kahn Swick & Foti, LLC, led by the former Attorney General of Louisiana, has launched an investigation into the adequacy of the price and process involved in the proposed sale of Elevation Oncology. This investigation is part of a broader pattern of legal inquiries into several companies, including Proficient Auto Logistics, AppLovin Corporation, Crown Electrokinetics Corp., Know Labs, Inc., and Atkore Inc., with law firms encouraging investors with substantial losses or relevant information to come forward. The acquisition and related investigations highlight ongoing concerns about corporate governance and shareholder value in the biotech and broader corporate sectors.