Hiltrud Werner is the only woman on the board of the troubled German car giant.Read more
Volkswagen is being accused of perpetrating a "massive fraud" on US investors by the US regulator, the Securities and Exchange Commission.
The SEC said in its complaint filed in San Francisco that from April 2014 to May 2015, Volkswagen issued more than $13bn in bonds and asset-backed securities in US markets at a time when senior executives knew that more than 500,000 US diesel vehicles grossly exceeded legal vehicle emissions limits.
The SEC wants to stop former chief executive Martin Winterkorn from being a director of a US company.
Volkswagen said it would contest the complaint which it said was"legally and factually flawed".
"The SEC has brought an unprecedented complaint over securities sold only to sophisticated investors who were not harmed and received all payments of interest and principal in full and on time."
Thousands of people have signed up to claim compensation from the carmaker Volkswagen over the diesel emissions scandal in Germany.
The federal justice office said more than 300,000 people had filed claims, with a rush to get on the list before it closed at the end of 2018.
Several thousand VW owners joined the register in the last three days of the year.
This comes after a German consumer association filed a class action lawsuit against VW in November, in the hope that the carmaker will be found liable to pay damages to German consumers, who have been left out of pocket by having to replace their existing vehicles.
Is Volkswagen at risk of paying out even over the diesel emissions scandal?
A court in Germany has ruled that Volkswagen must reimburse the total cost of a Golf to its owner who bought the motor in 2012.
A civil court ruled that Volkswagen had acted immorally by installing emissions-cheating software and had aimed to increase sales and profits by deceiving customers.
It certainly sets an interesting precedent.
Jennifer McKeown, chief European economist at Capital Economics, reckons that the 0.2% fall in German GDP during the third quarter will be temporary.
It compares to a 0.5% increase in the three months to June and she says it reflects "temporary disruption to car production ahead of new emissions testing procedures which came into force in September".
But she said: "While we had expected weakness in car production to be partly offset by other sectors, this does not seem to have happened."
Porsche, which is the largest shareholder of Volkswagen, has been ordered by German judges to pay its own investors €47m in damages.
The court ruled that Porsche failed to inform its investors in a timely manner about software used to cheat emissions tests that had been built into millions of Volkswagen cars.
The revelations first came to light in September 2015, when the US Environmental Protection Agency sent the Volkswagen Group a notice of violation of the Clean Air Act.
This news spurred investigations of Volkswagen in multiple countries, and its stock price fell by a third in the days immediately after the initial revelations.