4:25 PM PT -- A well-placed music industry source tells us there was no financial component to the settlement, and both sides just agreed to walk away from litigation.

Bruno Mars is putting one of the alleged ripoff lawsuits over "Uptown Funk" behind him ... TMZ has learned.

Bruno and '80s funk band Collage have dismissed the lawsuit over the hit song ... according to docs. Both sides agreed to drop the matter permanently. They don't spell out whether any money changed hands.

Collage and the publishing company had sued Bruno, Sony Music and Mark Ronson ... claiming 'Uptown' jacked the rhythm, harmony and melody of their song, "Young Girls."

As huge a hit as 'Uptown' has been ... it's brought Bruno and Ronson major legal headaches. They've been sued multiple times for stealing.

They're still dealing with lawsuits from '70s and '80s all-female group The Sequence ... as well as Zapp & Roger.