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Jason Reitman buys the rights to Elliot Allagash

Jason Reitman’s production company Right of Way Films has acquired the rights to Simon Rich’s satirical novel Elliot Allagash .

The story is a satirical riff on the traditional Pygmallion story. Bullied at his private school, Seymour Hoffman turns to mega-wealthy fellow teen Elliot Alagash who shows him the value of power and money and is transformed from loser to class president.

Since last year’s Oscar nominated Up in the Air , Reitman has been focusing on producing films, including the Duplass’ brothers upcoming comedy Jeff Who Lives at Home .

Although he has not yet committed to direct this timely criticism of money and greed could be an ideal project to break his directorial drought.

Saturday Night Live writer Rich will be adapting his novel into a screenplay.

Is Reitman the right man to direct Elliot Allagash ?