Savin canceled plans to introduce a new copier.

The Stamford, Conn., business products firm also reported that it has a negative net worth and is investigating the possibility of a financial restructuring. The actions came after Savin Corp. reported a third-quarter loss of $20.4 million and said it took a $50.7-million write-down on assets to settle a dispute with the Securities and Exchange Commission. The SEC accused the company of four years of unacceptable accounting practices, all related to research and development of the high-speed Series 8000 copier. The company said it will take $54.8 million in new write-offs and write-downs on assets, which will result in it recording a negative net worth on its books of about $50 million.