Just to clarify: a total of two (!) employees, one of which already lives in Queens (where Long Island City is located). This looks like one of those "slow news day"-type stories.
even if one thinks they are "trading" on insider info, how does one think companies gobble up parcels of land into a bigger parcel piece by piece. By also trading on insider info (that they want the whole large area). It's not considered illegal or immoral in a real estate context.