Michael Bay Film"I Am number Four" Update!!!

DreamWorks has acquired the screen rights to “I Am Number Four,” the first of a six-book science fiction series. Director Michael Bay (Transformers) is set to produce and possibly direct the novel adaptation.
The franchise is about a group of nine earthbound alien teens who escaped their planet just before it was destroyed by a hostile species. While the high school-aged kids assimilate, the title character discovers that he is being hunted by the enemy that blew up his planet.
A bit more information about the movie:
"The protagonist is 15. The rival race of aliens are from the planet Mogadore. They destroyed Lorien in order to strip the planet of its natural resources because Mogadore was dying, and still is, and they followed the Loric to Earth to finish the job. The Loric develop their “Legacies” (special powers) around their fifteenth year. This first book is a kind of love story. At its core it’s a type of father/son alone in the world, always moving to stay alive story, a lá The Road."
James Fey (A Million Little Pieces) is attached as a writer. Steven Spielberg is also expected to be involved in a capacity similar to his behind-the-scenes work on Transformers.