Michael Mayer, director of the Broadway musical, will be directing the film which will be produced by Green Day, Pat Magnarella (Green Day's manager who also produced Bullet In a Bible, Awesome As Fuck, and Heart Like a Hand Grenade), Playtone (Tom Hanks and Gary Goetzman) and Tom Hulce.
One news outlet "wondered" (for lack of a better word) if Billie Joe's success as St. Jimmy in the musical would lead to a role for him in the film, but no casting has been confirmed. Billie Joe has said in previous interviews that if the movie was made he'd leave "acting to the pro's" - but that was before his run on Broadway.
As for Green Day's involvement in the project - they've always stated that they would take an active role in any adaptation of their work to make sure it stayed true to what they wanted. They worked closely with Michael Mayer during production for the musical, and I'd say the same would be true for the film. With Michael Mayer directing, it feels like they've already got someone who has worked closely with Green Day and understands what they want. Mayer previously directed the films "A Home At The End of the World" and "Flicka".
Here are some more news stories about this:
'American Idiot' Movie Lands at Universal
"American Idiot" movie lands at Universal
Musical chairs finds 'American Idiot' heading to the big screen
American Idiot Film in the Works; Will Green Day's Billie Joe Armstrong Star?
'American Idiot' Movie: Green Day Broadway Show To Become A Film
What are your thoughts on the film?
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