Some speculated the film was being cancelled altogether, as sources report that Marvel was uneasy moving ahead with their project after Kick-Ass, which contains similar themes, faltered at the box office. According to Deadline, this is in no way true, and that the delay comes from Marvel Studios having too much on its plate at the moment.
Marvel plans to take their time bringing Runaways to the big screen so they can do it right. The live action adaptation was written by Lost's Brian K. Vaughan, and it is apparently being called the The Breakfast Club of teenage superhero flicks. The story revolves around a group of high schoolers that discover their parents are super villains. They band together to use their super powers for good, and build a secret base under the La Brea tar pits.
Nick and Norah's Infinite Playlist's Peter Sollett is still attached to direct Runaways, but he is being invited to take on another project first.