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You are somewhat correct. But, it warps because the person welding it tac welded the beads to close. And b/c the beads were probably too long.
There should be a continuous bead around the patch panel by the time the welder is done. They tack the piece in and one tack at a time, they completely weld the panel in until it is completely solid. What warps the metal is when they don't wait long enough between welds and it gets too hot. The beads can't be "too close" because they need to be actually touching.