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Rex Features
Also confirmed for the project are Ben Mendelson, Joel Edgerton and Jackie Weaver. David Michod will make his directorial debut with the film.
Pearce's character will be a cop that aids a 17-year-old who becomes embroiled in a crime family, according to The Hollywood Reporter.
The actor is also currently working on Adam Sandler's latest comedy vehicle Bedtime Stories and Cormac McCarthy adaptation The Road.
He is also rumoured to be in contention to play The Riddler in a forthcoming Batman project.
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