The story centers on a family who retreats to a bomb shelter to hide from a mysterious outbreak.
No deets were were given for the "True Blood" actor's character in the movie.
Directors Ross Duffer and Matt Duffer sold their 2011 Black List script last year in a highly competitive bidding war.
Roy Lee, Lawrence Grey, Mason Novick, and Richard D. Zanuck are producing the film.
John Powers Middleton and Sebastian Aloi will be executive producing.
No production schedule was given.
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