In his opinion, Judge Pollack blasted the plaintiffs as high-rollers who "now hope to twist the federal securities laws into a scheme of cost-free speculators' insurance".
"The record clearly reveals that plaintiffs were among the high-risk speculators who now hope to twist securities laws into a scheme of cost-free speculators insurance," Judge Pollack said in his decision.
The plaintiffs in these cases hoped "to twist the federal securities laws into a scheme of cost-free speculators' insurance," he thundered.
In summary, it concluded: "We do not consider that Ipsa has made a case for changing the boundary of the existing scheme of business costs and expenses".
The watchdog is, however, investigating allegations that Miss Dorries wrongly sub-let her taxpayer-funded home and that she "may have been paid an amount under the MPs' Scheme of Business Costs and Expenses that should not have been allowed".
In a statement, it said: "Following receipt of a complaint from a member of the public, the compliance officer for the Independent Parliamentary Standards Authority has today opened an investigation into claims made under the MPs' scheme of business costs and expenses by Simon Danczuk MP. "The expenditure under investigation relates to accommodation expenditure claimed under the scheme".
In a statement posted on its website on Friday the watchdog said: "The compliance officer for the Independent Parliamentary Standards Authority has reason to believe that Ms Nadine Dorries MP may have been paid an amount under the MPs' scheme of business costs and expenses that should not have been allowed".
A spokesperson for IPSA said: "An MP may owe an amount to Ipsa for many different reasons, and the fact that an amount is owed does not, in itself, indicate any misuse of the MPs' Scheme of Business Costs and Expenses".
The committee is asking Ipsa to "establish an evidence base for the proposals", adding: "We do not consider that Ipsa has made a case for changing the boundary of the existing scheme of business costs and expenses".
"The Compliance Officer for the Independent Parliamentary Standards Authority has reason to believe that Ms Nadine Dorries MP may have been paid an amount under the MPs' Scheme of Business Costs and Expenses that should not have been allowed," a statement on IPSA's website said.
