The movie will be based upon Marvel's Invincible Iron Man comic book, and follow the story of a billionaire weapons-manufacturer and playboy, Tony Stark. Downey Jr. will play Stark, who, equipped with a high-tech suit of armor, combats the evil villain Mandarin.
Art Marcum & Matt Holloway and Mark Fergus & Hawk Ostby wrote the film's screenplay. Filming will start in February.
Thanks go to Adam for the scoop!