chad,
I agree, it seems like blood money. The ones making out, of course, are the ambulance chasing lawyers. The shareholders get a pittance. But the pot is being split among those eligible as a members of the class who also file a timely claim. If you are eligible, and don't file a claim, your "share" just goes to the other members of the class.
So the question is how to turn this into good and make a statement. Of course one could always donate the settlement to a favorite charity. But how about this - claiming the settlement, and then turning around and returning it to Mannkind along with a letter saying essentially "we believe in what you are doing, you've done well by us, this suit is bogus, put this settlement money to good use furthering the cause."
Just my two cents (probably what I'll receive in the settlement) - lol.