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You need to have your husband sit down with an attorney. His attorney will investigate the matter and defend him in this petition for a restraining order. Also, his attorney may wish to send a letter to this woman (or her lawyer) describing the lawsuit you and your husband will file if she does not immediately stop falsely accusing him. Further, your attorney may wish to discuss the nature of her false accusations (false reporting, perjury, etc) with your local prosecutor.
You need not put up with this sort of behavior from her... get your lawyer on this and stop it before it gets out of hand.
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How seriously you treat the matter is entirely up to you. If she petitions the court for a restraining order and you go to court without a lawyer then you risk having the restraining order granted. However, if you go to a lawyer now and have a letter sent to her that explains all the terribly consequences (to her) that falsely accusing someone else of illegal activity can cause then you may be able to stop this before it goes any further. I would think that would be worth the small fee it would require to have an attorney draft a single letter. There are also potential civil claims against her if it continues.
Your only other option would be to wait and see.