This is what I read about it:
At the end of the Parco della Rimembranza, just before the square on the San Giusto hill, there is a large statue in honour of the fallen of the First World War. Inaugurated in 1935 in the presence of King Victor Emmanuel III and various fascist dignitaries, the monument was created by the sculptor Attilio Selva from Trieste, while Enrico del Nebbio, the architect of the already famous Foro Italico and the Palazzo della Farnesina, made the marble base.
The monument to the fallen of Trieste represents five men in a dramatic war scene in classical style. Three of them are carrying an injured comrade, while the fifth figure protects their backs with a shield. The work is more than five metres high in its entirety, the statues are made of cast iron and the base is made of white stone from Istria. It bears the dedication "Trieste / ai caduti / nella guerra di liberazione / MCMXV - MCMXVIII" (Trieste, to the fallen of the War of Liberation / MCMXV - MCMXVIII), where the term "war of liberation" does not refer to the resistance in World War II, but to the idea of an Italian Trieste liberated from Austria-Hungary, which was so dear to fascist national patriotism.