It wants to initialize it?? I haven't seen a hard drive hosed that way through bad interfacing in years. The only time that happened to me was when I had a bad third party USB card.
If the directory damage really was so severe through simple hot unplugging (and I am still having a hard time believing it), you may need a stronger tool than Disk Utility.
Diskwarrior might work, but it does not have a demonstration version. If it can recover the directory it would be the best option for getting the drive up and running as before.
Alternatively there's file recovery software: Try using an application such as Data Rescue 3 - http://www.prosofteng.com/products/data_rescue.php or FileSalvage - http://subrosasoft.com, or one of the ones listed in the link below. Some have free trial versions that let you see if the software will help before you decide to buy. You will also need a second hard drive equal to or larger in size than your first drive as a destination drive for recovered files. A disadvantage with this solution is it leaves you with a mess of files to sort out.
http://data-recovery-software-review.toptenreviews.com/mac-recovery-software
Of course much of this you might be able to recover from Match unless you had files of higher quality on the drive than are stored in Match.