Steel Warehouse Data Breach Settlement Offers Compensation to Affected Individuals
In January 2025, Steel Warehouse Company LLC experienced a targeted cyberattack that compromised personal identifying information, including Social Security numbers, birthdates, and financial data. The company has since agreed to a class action settlement to resolve allegations that it failed to adequately protect this sensitive information.
Who Qualifies for Compensation?
Individuals notified of potential exposure in the breach may file a claim as part of the settlement. Eligible class members can choose from several compensation options:
- Credit monitoring services: One year of CyEx Financial Shield Complete, including $1 million in fraud insurance, identity theft monitoring, and access to a fraud resolution agent.
- Out-of-pocket losses: Up to $5,000 for documented expenses related to the breach, such as identity theft, credit monitoring fees, ID replacement costs, and financial institution communications, incurred between January 23, 2025, and December 1, 2026.
- Lost time: Up to $60 ($20/hour for three hours) for time spent addressing the breach, including password changes and account monitoring.
- Alternative cash payment: A one-time $40 payment for those who do not claim documented losses or lost time.
How to File a Claim
Claimants must submit their request online or via mail/email by December 1, 2026, using the login ID and PIN provided in their settlement notice. Supporting documentation, such as receipts or bank statements, is required for out-of-pocket loss claims. Payments will be distributed via PayPal, Venmo, Zelle, virtual prepaid cards, or paper checks.
Settlement Fund Allocation
The total settlement fund covers:
- $182,500 in attorneys’ fees and costs.
- $2,250 service awards for each class representative.
- Credit monitoring and claimant payouts, with amounts determined by the number of claims filed.
Key Deadlines
- Opt-out deadline: October 2, 2026.
- Final approval hearing: October 21, 2026.
- Claim deadline: December 1, 2026.
Payments will be issued after the court grants final approval. While Steel Warehouse denies wrongdoing, the settlement was reached to avoid prolonged litigation. The breach underscores ongoing risks to personal data in cyberattacks and the financial repercussions for affected organizations.
Source: https://www.claimdepot.com/settlements/steel-warehouse-data-settlement
Steel Warehouse Company LLC TPRM report: https://www.rankiteo.com/company/steel-llc
"id": "ste1787877262",
"linkid": "steel-llc",
"type": "Breach",
"date": "8/2026",
"severity": "85",
"impact": "4",
"explanation": "Attack with significant impact with customers data leaks"{'affected_entities': [{'customers_affected': 'Individuals notified of '
'potential exposure',
'industry': 'Manufacturing/Warehousing',
'name': 'Steel Warehouse Company LLC',
'type': 'Company'}],
'customer_advisories': 'Settlement notices with compensation options',
'data_breach': {'personally_identifiable_information': 'Yes',
'sensitivity_of_data': 'High',
'type_of_data_compromised': ['Social Security numbers',
'birthdates',
'financial data']},
'date_detected': '2025-01-01',
'description': 'Steel Warehouse Company LLC experienced a targeted '
'cyberattack in January 2025 that compromised personal '
'identifying information, including Social Security numbers, '
'birthdates, and financial data. The company agreed to a class '
'action settlement to resolve allegations of inadequate '
'protection of sensitive information.',
'impact': {'data_compromised': 'Personal identifying information, including '
'Social Security numbers, birthdates, and '
'financial data',
'identity_theft_risk': 'High',
'legal_liabilities': 'Class action settlement',
'payment_information_risk': 'High'},
'investigation_status': 'Settled',
'references': [{'source': 'Class action settlement notice'}],
'regulatory_compliance': {'legal_actions': 'Class action settlement'},
'response': {'communication_strategy': 'Settlement notices to affected '
'individuals'},
'title': 'Steel Warehouse Data Breach Settlement',
'type': 'Data Breach'}