Ok, I just received this info from CBM user Erickz.
He writes:
"dude, I was watching the live stream for 'Avatar' on myspace and Bryan Singer just popped up on the red carpet. And they asked what projects he has coming up and he mentioned he is doing 'Jack the Giant Killer' but the moment that shocked me was...right after he said that, he also stated that just yesterday he signed the deal to do the 'X-Men: First Class movie.' And when they told him they were broadcasting live, he made the face of "oh sh*t".So I guess he is returning to the franchise. Anyway, I just had to tell you that so you can post it up or something. And man. I'm not lying here. O had to come and tell another comic book freak like me. Hope this information helps."
Thanks a mill for the scoop Erickz. Obviously this will have to remain a rumor until we get confirmation. But if it turns out to be the real deal I think it's a good thing. Even though I have little to no interest in a 'First Class' movie, no matter who may be directing.
Update: Erickz has sent me a video of Singer confirming he is the director.