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by Mike Caswell

Whitehaven Securities Inc., a portfolio manager being sued by Burnaby clients after its "safest" investments went awry, denies that it did anything wrong. The firm says that the clients at issue were sophisticated investors who knowingly invested in high-risk products. Moreover, the clients specifically acknowledged the nature of the investments and that they could afford to suffer a complete loss.

The denials from Whitehaven come in response to a lawsuit filed on April 30, 2026, by Burnaby resident Ching Nan Chen and his wife, Ying Hai Chen. The couple, aged 60 and 61, claimed that Whitehaven pitched products that were the "safest" and that could supposedly generate annual returns of 10 to 15 per cent. In reality, Whitehaven placed their money into illiquid funds that later wound up in court-ordered administration, the suit complained.

For its part, Whitehaven asks that the case be dismissed. In a response filed on July 10, 2026, the firm says that it "acted competently with care, skill and diligence" in handling the accounts of the couple. Moreover, the couple were experienced investors, according to Whitehaven.

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