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It’s not explicit from the article one way or the other, but the “investigation” seems to refer to officials from the fire department, which doesn’t imply that charges are being considered but instead that questions about policy adherence have been raised.
It’s a poorly written article, with polarizing ambiguity.
I mean, an IPO is a pretty reasonable point to allow insiders to trade. You’ve just published a huge amount of information about the company, so the insider advantage is at a relative low. It’s somewhat common for blackout periods to exist prior to things like earnings announcements, but after the announcement is usually when trading is permitted.