UPDATE: 5/1/10 1:20 PM PSTDeadline New York has updated their original story and are now reporting that Matthew Vaughn will not be directing X-Men: First Class.

The site now reports the studio has a list of directors that include Timur Bekmambetov, Louis Leterrier, David Slade, Daniel Espinosa and Carl Rinsch. It was also said that the studio would make a decision on the director next week, to gear up for a summer start date on the film. We'll be sure to keep you posted on these X-Men: First Class developments as soon as more information comes in.

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Original Story: We reported a month ago that director Bryan Singer was not going to be directing an upcoming superhero film and now it seems that Fox has zeroed in on their top candidate to replace Singer. Deadline New York is reporting that Kick-Ass director Matthew Vaughn is the leading studio choice to direct X-Men: First Class.

The site reports that negotiations have been going on all week and it seems that Vaughn beat out other directors such as Daniel Espinosa (Snabba Cash), Rupert Sanders (The Low Dweller) and Jonathan Mostow (Surrogates).

Interestingly enough, Vaughn was set to direct Fox's X-Men: The Last Stand before leaving the project. We'll be sure to keep you posted on any new developments on X-Men: First Class as soon as we have more information.