According to The Hollywood Reporter, the film has also rounded up Oscar nominee David Strathairn, Oscar nominee Ann-Margret, Oscar winner Ellen Burstyn and Chris Evans, whose name has never been mentioned in tandem with Oscar.
The film focuses on a 1920s Memphis debutante named Fisher Willow (Lohan) who falls in love with a young man (Evans) from the wrong side of the tracks and tries to pass him off as a wealthy suitor. When she loses a diamond, everything comes crashing down in the most melodramatic way possible. That last part is just our hunch.
Production on "Teardrop Diamond" would begin sometime next year.
The "Diamond" script wasn't discovered until after Williams' death in 1983. Believed to be written at some point during the '50s, it was published in the 1984 collection "Stop Rocking and Other Screenplays."
Lohan was born two years later in 1986. The "Just My Luck" thespian is on an indie tear with "Bobby," "Chapter 27" and "Georgia Rule" on tap.