Britney Spears Settles Sexual Harassment Lawsuit Filed by Former Bodyguard

Britney Spears has settled a lawsuit filed by Fernando Flores, a bodyguard who worked for her for a very short time -- a bodyguard who claimed Britney was a sex-crazed maniac who came on to him and flashed him.

Sources close to Britney say the lawsuit is total B.S. -- he worked for her for about a minute.

Nonetheless ... Britney decided to end the lawsuit after going before a private mediator ... and it's officially case closed.