BAD NEWS UPDATE straight from David Goyer's myspace blog:
Goyer Flash R.I.P.
"Well, I've been waiting a few months to relate this news -- but I am sad to say that my version of The Flash is dead at WB. The God's honest truth is that WB and myself simply couldn't agree on what would make for a cool Flash film. I'm quite proud of the screenplay I turned in and I genuinely think it would've been the basis of a ground-breaking film. But as of now, the studio is heading in a different direction. I expect you'll hear of some new developments on that front shortly."
This was posted back in February. Unfortunately, I haven't found much else on the matter.
However...
The Hollywood Reporter published this tantilizing story just a couple weeks ago:
"DC Comics' superteam Teen Titans is getting the big-screen treatment courtesy of Warner Bros. Pictures.
The live-action adaptation is being produced by Akiva Goldsman and Kerry Foster through their Weed Road banner, while Mark Verheiden has been brought on board to write the script.
The Teen Titans first appeared in 1964 as a sort of junior Justice League, comprising Robin, Kid Flash, Aqualad, Wonder Girl and Speedy, the respective sidekicks of A-list heroes Batman, Flash, Aquaman, Wonder Woman and Green Arrow."
More on this can be found here.