Is the Dow-Corning Settlement Taxable in the U.S.?

Hi

Could anyone please tell me whether the Dow-Corning settlement for the
class 
action suit in the U.S. is subject to income tax?

If so, is the total settlement amount added to one's income for the year 
that they receive payment?

Does the SFDCT send out 1099's with their settlement check?

Any other info would be greatly appreciated.

Thanks
Jacky