The company behind Wall Street’s famous Fearless Girl statue has been accused of paying its female workers less than men.
The State Street Corp. installed a statue of a young girl standing defiantly in front of the Charging Bull statue ahead of this year’s International Women’s Day. The sculpture was meant to raise awareness about the need for more women in corporate boardrooms and unequal pay.
READ MORE: Artist protests Wall Street’s ‘Fearless Girl’ with a peeing dog statue
The firm will now pay $5 million to more than 300 women, after an investigation by the U.S. Department of Labor found that it underpaid women and black executives.
The company, known for pressing other organizations to embrace a more equal workplace, reportedly paid women in leadership roles lower salaries, bonuses and compensation.
WATCH: ‘Fearless Girl’ statue stares down Wall Street bull to mark International Women’s Day
State Street Corp. said that it will pay the money, but it doesn’t agree with the investigation’s findings.
“State Street is committed to equal pay practices and evaluates on an ongoing basis our internal processes to be sure our compensation, hiring and promotions programs are nondiscriminatory,” the company said in a statement to Bloomberg.
WATCH: Petition calls for ‘Fearless Girl’ statue to remain
The company further disputed the allegations in a statement to NPR, saying they agreed to the settlement so they can “move forward” from the issue.
While the Fearless Girl was celebrated by those taking part in Women’s Day marches, it has faced a string of controversies.
READ MORE: Hundreds march in honour of International Women’s Day in Toronto
Days after it was unveiled, a photo of a “Wall Street bro” appearing to hump the statue went viral and prompted outrage online.
The statue has also been criticized by the sculptor of the Charging Bull statue, who said the four-foot girl altered the meaning of his creation.
Arturo Di Modica called the girl’s statue an “advertising trick,” and called to have it removed.
WATCH: ‘Charging Bull’ sculptor breaks down calling for ‘Fearless Girl’ removal
In May, another artist temporarily installed a statue called the Pissing Pug beside the bronze girl, in support of Di Modica.
The fearless, and often controversial, girl is set to remain displayed on Wall Street until March 2018.
— With a file from the Associated Press
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