The Oscar-winning actor is set to produce and star in the Amazon movie, which is being directed by Maggie Betts.
The flick is based on a true story and centers on a bankrupt funeral homeowner who decides to sue a rival businessman over a deal gone wrong. The owner ends up hiring a flamboyant attorney to handle the case.
It is unclear whether Jamie will be playing the owner or lawyer, but Deadline suggests that Amazon is searching for a legendary star to be cast alongside him on the project.
Doug Wright has penned the script for the flick, which is based on a New Yorker magazine article by Jonathan Harr.
Amazon Studios, Bobby Shriver Inc. and Double Nickel Entertainment are producing the drama.
Bobby Shriver is producing for his eponymous company with Adam Richman and Jenette Khan, serving as producers for Double Nickel.
Jamie, 52, is set to reprise his role as Electro in the new Spider-Man film.
He previously played the villain in the 2014 movie The Amazing Spider-Man 2, where Andrew Garfield played the web-slinging hero, but will now get the chance to battle Tom Holland in the Marvel Cinematic Universe (MCU).
As well as Electro, Jamie has played villains in flicks such as Dreamgirls and Baby Driver and he has admitted that he relishes playing baddies on screen.
He said: “It’s the same hustle, it’s just this is action. It has a little bit more of a deeper pool when it comes to the car chase and the guns, see I like guns and car chases, falling in love, tragedy and all of that kind of stuff.
“Yeah, I love playing the villain.”