A jury acquits Rengan Rajaratnam after a trial on insider trading charges in U.S. District Court in New York City.
U.S. Representative Chris Collins (R–NY) is arrested on charges of securities and wire fraud, conspiracy and lying to investigators. He is accused of passing nonpublic information about Innate Immunotherapeutics, a biotech company, to his son, who traded on the information and passed it along to others. Collins was a director of the company and also a major investor.
Former New Zealand prime minister Helen Clark is running for Secretary-General of the United Nations, to succeed Ban Ki-moon whose second term expires at the end of this year. Clark, who is the first non-European and fourth woman among the eight announced candidates, was prime minister for nine years (1999–2008) and has been Administrator of the United Nations Development Programme since April 2009. The United Nations Trusteeship Council will begin preliminary meetings with candidates next week in New York City.
In Queens Village, a part of the New York City borough of Queens, 25-year-old New York Police Department (NYPD) officer Brian Moore is shot in the head through the cheek while on patrol with his partner, Erik Jansen, who was uninjured, according to NYPD Police Commissioner William Bratton. The officer was placed in an induced coma at Jamaica Hospital Medical Center, but his condition eventually deteriorated, and he died on Monday, May 4, 2015, after being taken off of life support. Demetrius Blackwell, 35, is charged with first-degree murder in the case.
In New York City, U.S. district court judge Thomas Griesa expands the force of his existing remedial rulings in the ongoing litigation over the Argentine debt restructuring, blocking planned bond payments by Citigroup. The Citigroup processing of payments would violate a requirement that Argentina treat bondholders equally.
The Lisa Aschan-directed Swedish film "She Monkeys" wins best narrative feature and the Alma Har'el-directed Israeli film "Bombay Beach" wins best documentary prize at New York's Tribeca Film Festival.