The financial services firm behind Wall Street’s famous ‘Fearless Girl’ statue has settled a discrimination claim for $5 million after 305 top female employees and 15 of its black vice president’s alleged that they were being paid less than their white male peers. State Street was not forced to admit guilt in the case, but did agree to pay $4.5 million in back pay and $500,000 in interest into a settlement fund.
State Street installed a statue of a defiant young girl facing down Wall Street’s iconic ‘Charging Bull’ the day before International Women’s Day as part of a campaign intended to draw attention to the lack of women on corporate boards. The statue sparked a powerful response, as young men on Wall Street were captured abusing the statue, while others condemned it for representing “corporate feminism.” But after an outpouring of public support, it was announced that the ‘Fearless Girl’ would remain in place until International Women’s Day next year.
With the news of State Street’s settlement, criticism of the statue erupted once more as social media users accused the financial firm of hypocrisy.
— Charles Lipson (@Charles_Lipson) October 6, 2017
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