According to Variety, Peter Ramsey is directing the film based on "The Guardians of Childhood," an upcoming series of children's books by William Joyce, who will co-direct.
Pulitzer Prize winner David Lindsay-Abaire wrote the screenplay, which follows a group of heroic childhood legends, each with extraordinary abilities. When Pitch (Jude Law), an evil spirit akin to the boogeyman, lays down the gauntlet to take over the world, the immortal Guardians must join forces for the first time to protect the hopes, beliefs and imagination of children all over the world.
The project was originally announced in December 2009, with Leonardo DiCaprio voicing Jack Frost, a role Chris Pine will be taking over. He'll be joined by Hugh Jackman's Bunnymund (the Easter Bunny), Alec Baldwin's North (Santa Claus) and Isla Fisher's Tooth (the Tooth Fairy).
DreamWorks Animation will release the film on Nov. 21, 2012.