6:55 AM PT -- 7/1 -- Tour de France organizers have DROPPED their complaint against the 30-year-old woman who caused the pileup ... saying the story has been "blown out of proportion."
Race deputy director Pierre-Yves Thouault previously said the organization would sue the woman in hopes of preventing another incident ... but the honchos have since had a change of heart.
The woman isn't fully in the clear just yet -- she could still face legal action from the riders who were forced to back out of the event due to the crash.
The woman who allegedly caused a massive pileup during the first stage of the Tour de France has reportedly been found and arrested ... ending a 3-day search for the spectator.
As we previously reported, a woman stepped onto the road and held a cardboard sign towards the TV cameras as the pack of riders approached on Saturday ... and made contact with German rider Tony Martin.