According to The Hollywood Reporter, Gigandet will play the lead in the indie drama from writer-director Danny Buday.
The film focuses on a young man (Gigandet) who loses everything and has to put his life back together.
The trade paper adds that Jena Malone ("The Ruins") will play the main character's girlfriend, with Will Yun Lee ("Bionic Woman") as his best friend.
Gigandet is best known for a series of bad boy roles on the big and small screen. As Volchok, he contributed to Marissa Cooper's death on "The O.C." In "Never Back Down," he goaded the hero into a series of MMA bouts. And in "Twilight," opening this Friday (Nov. 21), he'll play relentless vampire James.
The "Young and the Restless" veteran also has "The Unborn" and "Pandorum" set for release.