"Baywatch" star Alexandra Paul just scored a victory in court ... because a judge SHUT DOWN her alleged stalker -- DENYING the woman's request for a permanent restraining order against Paul.
This is a crazy story -- as we reported, Alexandra claims Nicole Albrecht began stalking her back in 2011 ... showing up at her home, and a community pool where Alexandra trains.
Alexandra and Nicole eventually got temporary restraining orders against each other -- and today Nicole attempted to get a permanent one.
No dice ... the judge shot Nicole down -- and she ran from the courthouse with a hood over her face ... refusing to answer our questions about the case.
Alexandra -- who already has a permanent restraining order against Albrecht -- did talk to us after today's hearing.