Axip Energy Services Data Breach Settlement: Key Details and Payouts
A class action settlement has been reached with Axip Energy Services LP following a data breach between March and May 2024 that exposed the personal information of approximately 7,222 individuals, including current and former employees. The breach prompted allegations that the company failed to adequately safeguard sensitive data, though Axip denies wrongdoing and agreed to settle to avoid prolonged litigation.
Eligibility and Compensation
U.S. residents whose personally identifiable information (PII) was compromised and who received a Notice of Data Breach from Axip on or around August 21, 2024, may qualify for compensation. Claimants can choose from the following benefits:
- Three years of free three-bureau credit monitoring
- A one-time cash payment of $63
- Reimbursement for documented out-of-pocket expenses (e.g., bank fees, credit monitoring costs) incurred between March 1, 2024, and December 1, 2025, with a maximum total payout of $3,000 per claimant
How to File a Claim
Eligible individuals must submit a claim online, via a personalized form, or by mail to the settlement administrator at:
Garner v. Axip Energy Services Settlement Administrator
P.O. Box 301134, Los Angeles, CA 90030-1134
Claims require a Claim ID and PIN from the settlement notice. Expense reimbursements must include supporting documentation, such as receipts or bank statements.
Settlement Fund Allocation
The total settlement fund covers:
- Up to $50,000 for administration and credit monitoring costs
- Up to $120,000 for attorneys’ fees and expenses
- $5,000 service award for the class representative
- Remaining funds for approved claimant payouts
Key Deadlines
- Claim submission deadline: March 2, 2026
- Opt-out deadline: January 30, 2026
- Final approval hearing: Date to be determined
- Payouts: Expected 60 days after final approval or claim processing completion
Payments will be issued via paper check to the address provided on the claim form. The settlement resolves allegations of inadequate data protection, though Axip maintains it did not admit liability.
Source: https://www.claimdepot.com/settlements/axip-data-settlement
Axip Energy Services, LP cybersecurity rating report: https://www.rankiteo.com/company/axip-energy-services-lp
"id": "AXI1767218149",
"linkid": "axip-energy-services-lp",
"type": "Breach",
"date": "5/2024",
"severity": "60",
"impact": "3",
"explanation": "Attack with significant impact with internal employee data leaks"{'affected_entities': [{'customers_affected': '7,222 individuals (current and '
'former employees)',
'industry': 'Energy Services',
'location': 'United States',
'name': 'Axip Energy Services LP',
'type': 'Company'}],
'customer_advisories': 'Notice of Data Breach sent to affected individuals on '
'or about Aug. 21, 2024',
'data_breach': {'number_of_records_exposed': '7,222',
'personally_identifiable_information': 'Yes',
'sensitivity_of_data': 'High (PII)',
'type_of_data_compromised': 'Personally identifiable '
'information (PII)'},
'date_publicly_disclosed': '2024-08-21',
'description': 'Axip Energy Services LP has agreed to pay to settle a class '
'action lawsuit regarding allegations that it failed to '
'adequately protect personal information during a data breach '
'between March and May 2024. The cybersecurity incident '
'compromised personal information belonging to approximately '
'7,222 individuals, including current and former employees.',
'impact': {'data_compromised': 'Personally identifiable information (PII) of '
'current and former employees',
'financial_loss': 'Up to $3,000 per claimant in reimbursements and '
'settlement payouts',
'identity_theft_risk': 'High (PII exposed)',
'legal_liabilities': 'Class action lawsuit settlement'},
'investigation_status': 'Settled (class action)',
'post_incident_analysis': {'root_causes': 'Alleged failure to adequately '
'protect personal information'},
'references': [{'source': 'Class action settlement notice'}],
'regulatory_compliance': {'legal_actions': 'Class action lawsuit'},
'response': {'communication_strategy': 'Notice of Data Breach sent to '
'affected individuals on or about Aug. '
'21, 2024',
'enhanced_monitoring': 'Three years of three-bureau credit '
'monitoring offered to class members'},
'title': 'Axip Energy Services Data Breach Class Action Settlement',
'type': 'Data Breach'}