Bryan Singer, Accuser Settle Sexual Molestation Suit -- Accuser Then Flip FLops

Bryan Singer and the man accusing him of molesting him when he was 15 settled the case for $100K but the alleged victim changed his mind, and lost his lawyer in the process ... TMZ has confirmed.

Sources connected with the case tell TMZ ... attorney Jeff Herman, who reps accuser Michael Egan, approached Singer's lawyer Marty Singer, offering to drop the case for $100,000.

In the greater scheme of things, if Egan had a valid sexual molestation case -- proving the "X-Men" director repeatedly sexually assaulted him when he was 15 -- it would be worth many millions.

A settlement of $100K -- which would be a fraction of Bryan Singer's legal fees -- is viewed more like a "nuisance" settlement.

But here's the twist. After the settlement was signed, Egan backed out of it, saying "This exact kind of take-it-and-shut-up deal is why I decided to stand up in the first place."

Apparently Egan's lawyer wanted the case to settle, so Herman tells us he's dropping out of the case.