The untitled independent feature is based on Highsmith's second Ripley novel. The first, "The Talented Mr. Ripley," was turned into a film by Anthony Minghella starring Matt Damon and Jude Law. "Ripley Underground," centers on a man, Ripley, in danger of being discovered to have defrauded a large company out of a fortune, which could cost him his wealthy wife.

Pepper is starring next in Charles Martin Smith's "The Snow Walker." He also recently landed the role of engineer Glenn Odekirk opposite Leonardo DiCaprio's Howard Hughes in Martin Scorsese's "The Aviator," according to The Hollywood Reporter.

Wilkinson, who is currently shooting Michel Gondry's "Eternal Sunshine of the Spotless Mind" opposite Jim Carrey, will be appearing next in Gil Junger's "If Only" with Jennifer Love Hewitt, and Peter Webber's "Girl with a Pearl Earring" with Scarlett Johansson.

Production on the "Ripley Underground" project is set to begin in June.