The last we heard about the film adaptation of Y: The Last Man, director D.J. Caruso and New Line Cinema were having issues agreeing on the direction of the project and how to spread it out over multiple films. Caruso wants a trilogy, New Line wants to fit more into less and hence, multiple script re-writes and production delays.
Conveniently enough, director Louis Leterrier (The Incredible Hulk, Clash of the Titans) expressed interest in the project a few months before that as he does with most projects he's interested in (like The Avengers) and now comes confirmation that he's in talks with New Line for the job.
"I'm surprised that it hasn't gotten made yet. The first time I read it, I was in France and doing my little movies, and I didn't think I would ever have access to these kinds of movies. Midway through 'Clash of the Titans,' I was like, 'What's going on with 'Y The Last Man'?' I called one of the producers and asked what was going on, and he said it was available. I said, 'Let's go!'"
This confirms that Caruso was on the way out and that his goals of keeping the film(s) closer to the comics and covering more of the story did not match the studio's. One positive for many fans that can be taken out of this is that since Caruso is out, his acting partner Shia LaBeouf likely won't star. The lead role of Yorick Brown is far too similar to that of Sam Witwicky from the Transformers franchise and even LaBeouf is able to admit that.
"DJ Caruso was supposed to do it with Shia Labeouf, and that sort of went on and was over, so I went in and said, 'Please, please let me have it!'"
What I don't understand about Leterrier taking over is that his ideas for Y: The Last Man also conflict with what New Line apparently wishes to do with it. Like Caruso before him, Leterrier believes the adaptation can't work as a solo movie but would be great as a TV series or 3-parter.
"It could play as a movie, but it would be very interesting as a TV show... [It wouldn't work as] one large film, no. I'd love to do it as a TV show or a three-part series.... I like the idea of a TV show. You take time to get to know your characters. You can introduce a lot of characters. You don't need your three-action set pieces that you usually need for movies. Frankly, with HBO and Showtime and cable shows, the DVD box sets and all, you can have a product that doesn't make you feel like as soon as it's projected, it's thrown away. It's really a piece of art."
As for the current status of the project, Leterrier says that it's currently "stuck" and that they're still trying to figure out what to do with it and in what format and how many installments it should be made into. The film is unfortunately no closer to being made than it was before and we don't even know if it will be a film or who will helm it.
Y: The Last Man was planned as a 2010 release back in the day but the earliest we could see it now is in 2012.