Thanks to Wikipedia, I can give you a run-down of the storyline. It's story is set in 1985 and presents an alternate history for the United States and the Soviet Union. Apparently, there are costumed superheroes without superpowers. They are billed as ordinary people full of problems just like the rest of us.
According to Varitey, the film is going to be adapted by Zack Snyder for the big screen. The cast they have signed on so far is Billy Crudup, Patrick Wilson, Matthew Goode, Jeffrey Dean Morgan, Jackie Earle Haley and Malin Akerman. Some of the actors previously considered for the roles were Keanu Reeves and Jude Law.
Warner Brothers is planning to confirm the cast and present them at Comic-Con this weekend. So, all of you that are lucky enough to be going to Comic-Con, let me know if this looks like it will be a good adaptation.