Mrs Justice Steyn has found that Rebekah Vardy's evidence in the trial was "manifestly inconsistent" with other evidence on "many occasions".
In her judgement, she said: "It was evident that Mrs Vardy found the process of giving evidence stressful and, at times, distressing. I bear in mind when assessing her evidence the degree of stress she was naturally feeling, given the high-profile nature of the trial, the abuse that she has suffered since the reveal post was published, and the length of time she was in the witness box."
"Nevertheless," the judge continued, "I find that it is, unfortunately, necessary to treat Mrs Vardy's evidence with very considerable caution.
Quote Message: There were many occasions when her evidence was manifestly inconsistent with the contemporaneous documentary evidence, eg. in relation to the World Cup 2018 and the photoshopped pictures, and others where she was evasive."
Mrs Justice Steyn continued: "Mrs Vardy was generally unwilling to make factual concessions, however implausible her evidence.
"This inevitably affects my overall view of her credibility, although I have borne in mind that untruthful evidence may be given to mask guilt or to fortify innocence."
Discussing the information that was shared from Rooney's private Instagram account, Mrs Justice Steyn said:
Quote Message: The information disclosed was not deeply confidential, and it can fairly be described as trivial, but it does not need to be confidential or important to meet the sting of the libel.
Quote Message: It was information derived from private posts that Mrs Rooney did not want made public. The Pyjamas Post, for example, was a photograph that Mrs Rooney may well have been content to share publicly at a different point in time, but the timing of its disclosure revealed very personal information that she had chosen not to make public."
The Pyjamas post mentioned in the judgement refers to a picture of Rooney's husband Wayne in bed with three of his sons in spotted pyjamas, which Rooney shared on her private Instagram account.
The judge added that while two of the stories posted by Mrs Rooney were fabricated, "this does not detract from the conclusion that the essential sting of the libel has been shown to be true".
A key feature of the trial - one Coleen Rooney's barrister sarcastically labelled "a series of unfortunate events" - was the fact WhatsApp messages between Rebekah Vardy and her agent Caroline Watt were not available during the trial.
Watt later claimed she'd dropped her phone in the North Sea while on a boat trip in Scotland, while Vardy's team claimed at pre-trial that an IT expert tasked with securing the material had “forgotten the password which he used to encrypt the material”.
In her judgement, Mrs Justice Steyn says these reasons "are each improbable", adding:
Quote Message: But the improbability of the losses occurring in the way they describe is heightened by the fact that it took the combination of these improbable events for the evidence to be unavailable.
Quote Message: In my judgment, it is likely that Ms Vardy deliberately deleted her WhatsApp chat with Ms Watt, and that Ms Watt deliberately dropped her phone in the sea."