Shares in Volkswagen slide after U.S. Justice Department sues automaker

Shares in Volkswagen AG slidafter the U.S. Justice Department sued the German automaker over emissions-cheating software that had been placed ondiesel vehicles.

Volkswagen's shares fell 5.9per cent, or $1.76, to close at $28.34USin New Yorktrading on Tuesday.

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The U.S. Justice Department's move on Monday potentially exposes the company to billions in fines for clean air violations.

Volkswagen set aside 6.7 billion euros to deal with the costs of recalling and fixing cars after the scandal erupted in September, but the ultimate costs to the company are expected to be considerably higher.

A raft of private class-action lawsuits filed by angry VW owners also is pending.