You should make an appointment to meet with a lawyer in your area because this matter requires a careful review of facts not set forth in your question. For example, you need to review with the lawyer the facts of the "lawsuit settlement." As with all things in the law, there are deadlines so the sooner you see a lawyer, the better. Check AVVO by going to "find a lawyer," type your town in the blank on the right, and it will generate a list. You can search by nieghborhood. Just do so soon.
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Generally, potential class members can "opt out" of a class settlement but they rarely do so. Most likely, signing the check would bind you to the settlement. You should consider whether it is worth fighting for more. It may depend on the size of the check. To make a fully informed decision, you need to find more information about the settlement, which you may be able research on the internet, or you might find some information on the check itself that would lead you to some of the case...
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