Law360 (April 26, 2021, 6:37 PM EDT) — Special purpose acquisition companies have been around for decades, but the practice of taking a company public with a SPAC instead of as a traditional initial public offering has recently exploded in popularity, especially in the first few months of 2021.One driver of the popularity of SPACs is the perception that they have lower liability risks than traditional IPOsBut a closer look at SPAC transactions suggests that the liability risks are not as low as some believe.Sponsors, directors and officers of SPAC companies should act to protect themselves against potential claims from both the private plaintiffs bar and…