By Mandi Bierly
Updated December 28, 2010 at 05:58 PM EST

Image Credit: Frazer Harrison/Getty Images; Jean Baptiste Lacroix/; Inset: Janet Mayer/PR PhotosWe all remember how personally Lindsay Lohan took that E*Trade commercial featuring a “milkoholic” baby named Lindsay, but screenwriter Charles Casillo insists the actress has nothing to worry about with his upcoming film Dogs in Pocketbooks. TMZ reports that the Lohans are already considering legal action after the New York Post‘s Page Six column wrote that the script centers on a character based on Lindsay. (Reps for Lohan have not returned EW’s request for comment.) “It’s more like it’s based on some of the headlines she’s generated. Not a biography. The movie is a satire on the nature of celebrity today,” Casillo tells EW. “The main character is a young starlet and the insane life she lives, and the crazy people that surround her — and want something from her. I originally said that the character is a composite of many young starlets today … including Lindsay Lohan. I also said it has some of the old glamor goddesses in the character too, like Marilyn Monroe and Jean Harlow. It is by no means ‘The Lindsay Lohan Story.’ Other headlines regarding actresses like Britney Spears and Paris Hilton are also spoofed.”

Casillo — who’s also penned the book The Marilyn Diaries, a fictitious recreation of the lost diary of Marilyn Monroe, as well as the 2010 short film Fetish starring Joan Collins as an aging sex symbol — has offered the starring role to model-actress Lydia Hearst (pictured, inset) whose agent confirms the offer but tells EW she hasn’t even read the script yet and adds, “her team has no knowledge of this project nor any ties to Lindsay Lohan.” Joan Collins, Casillo says, will costar as an aggressive agent, while he, having appeared opposite her in Fetish, will play the starlet’s alcoholic manager and unlikely love interest. “The Lohan family has no reason to disapprove and her people have no reason to be up in arms. Dogs in Pocketbooks is a screwball comedy,” Casillo maintains. “The Page Six story, which was fine, has been picked up and twisted by many media outlets (the kind of thing that happens in the script, actually). Some have said any story about Lindsay Lohan should be a tragedy, not a comedy. But this is not about Lindsay Lohan’s life. I realize that people love Lindsay. They probably want a movie about her. However, this movie is fiction. All characters in literature and movies have some basis and inspiration from real life people and events. If Lindsay Lohan saw the screenplay she would not be offended in the least. She’d probably laugh. Sort of like when she did the parody of herself in the eHarmony dating spoof.”