Taylor Lautner is set to star as Stretch Armstrong in the 3D movie based on the Hasbro toy. The film is set for release in 2012, after pushing back the release date about a year. According to THR, the plot is very Peter Parker-esque, with Stretch as an uptight spy who has to adjust to life after stumbling across a stretching formula.
Lautner is best known as Jacob Black in the Twilight franchise, was also Sharkboy in The Adventures of Sharkboy and Lavagirl 3-D and voiced a couple of characters in the animated series Duck Dodgers in the 24½th Century.
The report also includes a tidbit that yet another Hasbro toy adaptation, Battleship, is being pushed back to introduce a sci-fi component (read: aliens). Battleship is now being positioned for Memorial Day weekend 2012, which suggests that Stretch Armstrong is probably going to be released later in the year to avoid competition.