Garrett Meyer is writing the true-crime project, which follows a frat president and lacrosse captain who gets busted with cocaine. To avoid jail time, he agrees to become an undercover informant for the police and begins ratting out individuals higher up the criminal ladder.
Doug Banker and Jason Barrett will executive produce, while Matthew Reilly will co-produce.
Efron will soon be seen in the JFK assassination drama "Parkland" and the romantic comedy "Are We Officially Dating?" He's repped by CAA and Alchemy Entertainment.
Deadline broke the news.