Di Modica installed the "Charging Bull" in front of the New York Stock Exchange in 1987.
In response, mayor of New York City, Bill de Blasio announced the statue had been granted permission to stay until February 2018.
In a statement to NBC, State Street said that they were "grateful to the City of NY and people around the world who have responded so enthusiastically to what the Fearless Girl represents - the power and potential of having more women in leadership".
"We wouldn't move the Charging Bull statue if it offended someone".
"It's really bad", sculptor Arturo Di Modica, 76, told reporters, his voice thick with emotion and barely audible.
Di Modica is challenging the integrity of the statue's message, which he said is degraded by its corporate ties.
According to the Associated Press, Di Modica is accusing the city of violating his legal rights with its decision to allow the new sculpture to stay opposite his bull. "None of us here are in any way not proponents of gender equality", they said before demanded the statue of the little girl be moved elsewhere. The piece, which has been standing for more than 27 years, was intended as a message of "freedom in the world, peace, strength, power and love".
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"I'm not a 'poor Arturo, ' " Di Modica said, in reference to a Post story in which artist Kristen Visbal, commissioned to create the bronze of a sassy girl staring down the bull, admitted feeling sorry his iconic work was now a source of mockery.
A plaque originally placed at the girl's feet read: "Know the power of women in leadership".
City officials approved a one-year residency as some advocated for the Fearless Girl to become a permanent installation.
.For her part, Fearless Girl's creator says she has no hard feelings.
His lawyer, Norman Siegel, said the girl's presence makes the bull "representational of male dominance and Wall Street" instead. These tweets about the "Charging Bull" artist opposing the "Fearless Girl" statue prove not everyone agrees with the artist's opposition.
'How did the process happen and should permit be revoked?' his lawyer said in an interview. The illegally placed statue was initially removed by police, but public outcry in support caused it to be permanently installed nearby.
Siegel called for damages for the "violation" of Di Modica's statutory rights, urging the mayor and company chief executives to come together to find an amicable solution.
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