That's right, the Notorious SMG will reprise her iconic role as superbitch Kathryn Merteuil alongside American Crime's Taylor John Smith as her nephew/nemesis, Bash. According to Deadline:
Set in present day, Cruel Intentions picks up more than 15 years after the movie left off. It follows the beautiful and cunning Kathryn Merteuil (Gellar) as she vies for control of Valmont International as well as the soul of Bash Casey (Taylor John Smith), the son of her brother, the late Sebastian Valmont (Phillippe), and Annette Hargrove (Witherspoon). Upon discovering his late father's legacy in a hidden journal, Bash is introduced to a world of sex, money, power and corruption he never could have imagined.
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There's no word yet if Gellar's original Cruel Intentions co-stars Selma Blair, Reese Witherspoon and Joshua Jackson will also make appearances, but I feel like they might at least entertain the option: