Wells Fargo analyst David Maris believes Valeant's 10-K included several "concerning" items, including the fact that, if the impact of acquisitions is removed, then Q4 sales actually declined. The 10-K says the company may sell assets and "may issue debt or equity securities" to "meet payment obligations" or to reduce leverage, noted Maris, who believes that Valeant's EPS guidance is at risk and noted that the company did not affirm the recent EPS guidance that had been issued. The filing also reveals a "big uptick" in investigations of the company, according to Maris, who keeps an Underperform rating on the shares.