By Jonathan Stempel
NEW YORK (Reuters) – The sculptor who created the “Fearless Girl” statue that promoted gender diversity on Wall Street has settled a lawsuit by a State Street unit seeking to stop her from selling replicas.
Kristen Visbal and State Street Global Advisors signed a settlement agreement following mediation earlier in the month, their lawyers said in a letter filed on Saturday in federal court in Manhattan.
Terms were not disclosed. The settlement averted a trial scheduled to begin on Monday.
State Street installed “Fearless Girl” in Manhattan’s financial district, across from the “Charging Bull” sculpture, in March 2017 shortly before International Women’s Day.
The bronze statute is about 50 inches (127 cm) tall, depicting a girl standing proudly with her hands on her hips.
“Charging Bull” had been installed in 1989, as a symbol of strength following the stock market crash two years earlier. It has become a popular tourist attraction.
State Street sued Visbal in February 2019, saying her replicas undermined its message that responsible companies support gender diversity, and female leaders help them perform better.
It also said the unauthorized replicas damaged its goodwill, and amounted to copyright and trademark infringement.
“Fearless Girl” is now located outside the New York Stock Exchange.
In a joint statement, State Street and Visbal said: “The parties are proud of the dialogue and change that Fearless Girl has inspired over the past seven years.”
State Street Global Advisors has about $4.13 trillion of assets under management, according to its website.
The case is State Street Global Advisors Trust Co v Visbal, U.S. District Court, Southern District of New York, No. 19-01719.
(Reporting by Jonathan Stempel in New York)
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