U.S. markets closed
  • S&P 500

    4,017.77
    -52.79 (-1.30%)
     
  • Dow 30

    33,717.09
    -260.99 (-0.77%)
     
  • Nasdaq

    11,393.81
    -227.90 (-1.96%)
     
  • Russell 2000

    1,885.72
    -25.74 (-1.35%)
     
  • Crude Oil

    77.81
    -1.87 (-2.35%)
     
  • Gold

    1,939.00
    -6.60 (-0.34%)
     
  • Silver

    23.69
    +0.07 (+0.29%)
     
  • EUR/USD

    1.0852
    -0.0022 (-0.21%)
     
  • 10-Yr Bond

    3.5510
    +0.0330 (+0.94%)
     
  • GBP/USD

    1.2351
    -0.0043 (-0.35%)
     
  • USD/JPY

    130.4310
    +0.6270 (+0.48%)
     
  • BTC-USD

    22,735.44
    -1,059.70 (-4.45%)
     
  • CMC Crypto 200

    514.97
    -22.91 (-4.26%)
     
  • FTSE 100

    7,784.87
    +19.72 (+0.25%)
     
  • Nikkei 225

    27,433.40
    +50.84 (+0.19%)
     

‘Fearless Girl’ Firm Fined for Underpaying Females

State Street Corp (NYSE:STT), the firm behind the Fearless Girl statue, is paying a fine for underpaying women.

'Fearless Girl' Firm Fined for Underpaying Females
'Fearless Girl' Firm Fined for Underpaying Females

Source: Shutterstock

News of the fine for the company behind the Fearless Girl statue was made public in an announcement by the U.S. Department of Labor. This includes an agreement that will have State Street Corp paying roughly $5 million to employees that were underpaid.

The fine that State Street Corp is facing includes $4.5 million in back pay for its employees. It will also include $507,000 in interest. The announcement from the U.S. Department of Labor says that the issues with its unequal pay extends back to Dec. 1, 2010.

InvestorPlace - Stock Market News, Stock Advice & Trading Tips

State Street Corp denies that it paid employees less based on gender, age or race. The allegations from the U.S. Department of Labor claim that the company paid 305 female employees less than male counterparts in the same positions. It also says that the company paid 15 black employees less than white employees in the same roles.

The irony of the allegations against State Street Corp aren’t lost here. The company was responsible for the Fearless Girl statue that now stands in front of the Charging Bull at Wall Street. The statue was set up back in March for International Women’s Day.

The Fearless Girl was originally only supposed to stay up until April of this year, but will now be sticking around until International Women’s Day 2018. When first put up, the firm said the statue represents “the power of women in leadership, and the potential of the next generation of women leaders,” reports The New York Times.

More From InvestorPlace

As of this writing, William White did not hold a position in any of the aforementioned securities.

The post ‘Fearless Girl’ Firm Fined for Underpaying Females appeared first on InvestorPlace.