Yes Man director Peyton Reed has signed on to direct the new film comedy Ricky Stanicky, according to Pajiba.

James Franco is currently attached to star as the title character in the film, which centers around three friends who, as teenagers, accidentally burn down a house and create the fictitious Ricky Stanicky to take the blame. Two decades later, the grown-up friends are still using Stanicky as their scapegoat but, when their wives demand to meet this mystery man, they are forced to hire an actor (Franco) to bring him to life.

No production schedule was released for the film, which was written by Jeffrey Bushell. We'll be sure to keep you posted with any further details on Ricky Stanicky as soon as we have more information.

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