Plaintiff says orders to sell were not followed, leading to large losses. Business groups fear a wave of similar suits. James LaRue says he lost $150,000 when his instructions to his employer for where to invest money in his retirement plan were ignored.

Business groups lean toward one. Activists fear neither would help them gain a say in nominating directors. WASHINGTON — The Securities and Exchange Commission on Wednesday voted to propose competing measures regarding the rights of shareholders in the election of corporate directors, leaving a long-contentious issue in the air.