But on March 7, the SSGA has commissioned artist Kristen Visbal to create the "Fearless Girl" to honor the determination and strength of women in leadership on International Women's Month, reports Travelers Today.
Lawyer Siegel demanded the removal of the Fearless Girl, saying due process was not followed by city officials while granting permission to install the statue, the BBC reported. He installed the bull in front of the New York Stock Exchange in 1989 to highlight America's financial resistance following the 1987 stock market crash.
There's no question that Fearless Girl derives its meaning from its interaction with Di Modica's piece.
By positioning one sculpture near the other, everything changes, to Di Modica's detriment, said attorney Norman Siegel, former head of the New York Civil Liberties Union.
"Men who don't like women taking up space are exactly why we need the Fearless Girl", the mayor tweeted Wednesday. Now, Charging Bull sculptor Arturo Di Modica wants the statue of the young girl removed, saying it violates copyright and was placed there for commercial gain. But Mayor Bill de Blasio announced in March that, in part due to the sculpture's booming popularity, it would remain until February 2018. The attorneys also filed Freedom of Information Act requests with several NY agencies, to seek paperwork and records related to the authorization, location and installment for "Fearless Girl".
Despite questioning the legality of Fearless Girl's continued presence, Modica has not taken action against State Street Global and hopes that the situation can be resolved outside of court.
"Our goal with Fearless Girl was to create a powerful symbol to stand as a reminder to corporations across the globe that having more women in leadership positions contributes to overall performance and strengthens our economy", the company said.
She said images of "Fearless Girl" did not go viral online because people wanted to promote an investment company, "but because she represents a refreshing, inclusive, 21st-century vision of core American values like courage and righteous defiance".
"They have since taken the plaque away", Siegel said. He accuses State Street of using the sculpture "for commercial purposes".
So far, he has not filed suit against State Street or New York City. Di Modica may have been able to argue a violation of his copyright under VARA if he could convince a judge that the city modified his work or damaged its integrity in a way that harmed his reputation, which the city nearly certainly did.
Di Modica createdhis statue as a positive symbol, but says the addition of the courageous girl turned his bull into a villain.
"The girl is right in front doing this, 'Now I'm here, what are you going to do?' " Di Modica said.
The artist told the press Wednesday that he invested $300,000 of his own money and two years work to make "Charging Bull" a reality. But that doesn't impress Hyman, the lawyer for the sculptor who made the bull.