New Line had been in talks with Dustin Hoffman for the part late last year. Zach Braff, who helmed the Kickstarter-funded comedy “Wish I Was Here,” will direct from Ted Melfi’s script, with shooting set to begin Aug. 3 in New York City.
Warner-based Donald De Line is producing and Tony Bill, who produced the original film, is exec producing.
The 1979 pic also starred Art Carney and Lee Strasberg and followed three retirees who wear Groucho Marx glasses to execute a bank heist. Directed by Martin Brest, the film was a solid performer for Warners with $30 million at the box office.
The new version of “Going in Style” will center on three retired men who lose their pensions when the company they’ve worked for their entire lives is sold to a foreign corporation. Desperate for money to survive, they set out to try to rob the very bank that’s withholding their money.
Caine has won two Oscars while Freeman and Arkin have each won one. Caine and Freeman are currently shooting “Now You See Me 2” and Freeman is also in “Ben-Hur.” Arkin is in the romantic comedy “Love the Coopers” for CBS Films.
Arkin is repped by ICM Partners.