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Bagel Guy Chris Morgan Facing Lawsuit for Bailing on Fight

The angry little bagel guy may have made a big mistake by pulling out of his "celebrity" fight at the last minute ... because the promoter's lawyered up and wants to hit him where it hurts, legally speaking.

Chris Morgan surprised everyone involved with his scheduled boxing event Saturday night in Atlantic City by announcing on Twitter hours before that he'd fooled them all ... and had no intention of showing up to get beat up.

We're told promoted Damon Feldman is PISSED about the ruse, and has retained an attorney to explore legal options to take against Bagel Guy.