New Zealand's Fletcher Building drops amid likely legal woes over plumbing
** Shares of New Zealand's Fletcher Building FBU.NZ slip as much as 7% to NZ$3.03, their lowest since Aug. 7
** Co says Australia's Buckeridge Group of Companies (BGC) intends to take legal action against its unit for plumbing failures at various homes in Perth
** BGC, Western Australia's largest new home construction company, along with smaller peer Delstrat built about 90% of the homes in Perth that reported plumbing failures due to an alleged defect in pipes produced by FBU
** FBU shares down for a fourth straight session, second-biggest pct loser on the benchmark index S&P/NZX 50 index .NZ50
** More than 2.4 mln shares change hands, compared with the 30-day average volume of ~920,722 shares
** Stock down 31.4% this year, as of last close
Reporting by Roushni Nair in Bengaluru
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