A "Qualified Settlement Fund" (https://www.law.cornell.edu/cfr/text/26/1.468B-1) is essentially an entity that allows which allows defendants to deduct amounts paid into the fund before the final allocation and distribution occurs to plaintiffs.
Not receiving a 1099 actually works in your favor here since the default tax accounting for amounts reported on the 1099 largely are dictated by what box or boxes have dollars in them.
The broad general concept behind how amounts received in settlements are accounted for income tax purposes is the "origin of the claim." In other words a recovery should be taxed in the same manner as the item for which it is intended to substitute. So if this was a class action against a former employer for unpaid wages, the settlement amount would be considered "wage" income (and possibly reported on a W-2).
Without knowing the details here of what exactly comprises your settlement it's impossible to state "this is how you should account for the dollars."
