May 22, 2015 10:32 AM EST

Now You See Me 3 in Development

Lionsgate has announced that they are now in the beginning stages of developing "Now You See Me 3". The news was announced this morning by CEO Jon Feltheimer during a conference call discussing quarterly earnings.

"Now You See Me 2" is slated for a June 10, 2016 release, and will star Mark Ruffalo, Woody Harrelson, Jesse Eisenberg, Isla Fisher, Dave Franco, Morgan Freeman and Michael Caine.

Director Jon M. Chu will be back to direct the sequel, with Ed Solomon and Pete Chiarelli writing the script.

Countdown to the release of Now You See Me 3 with the The Movie Hype App.