The best bet for recovering information from a bad flash drive is LC Technology. They offer both a software recovery product and recovery services. The recovery software is available for free download. Though, I don't know what it's limitations are. Also, SanDisk recommends LC Technology for recovering lost data.

You flash drive has two components - controller and memory. From the error message you posted, the controller has been affected. There's a good chance that the data has not been corrupted, only that it's unreachable. That's where a specialist like LC Tech might be able to help out.

Hope all turns out well.