Drew Pearce was brought in by the studio to write it seemed odd as Black is known as a very successful screenwriter. CinemaBlend is now reporting that Shane is in fact co-writing with Drew.
It's great news as Shane is one of the greatest action genre writers. Creating the Lethal Weapon franchise to writing scripts for The Last Boy Scout, The Long Kiss Goodnight, Last Action Hero and his directorial debut Kiss Kiss Bang Bang. He's also working on adaptations of Doc Savage and Death Note.
I recently re-watched Iron Man 2 and one of my biggest issues were the film's action set pieces in Monaco and Stark Mansion. They were big let downs and it wasn't until the very end that we got something fun and visual with the droids, War Machine and Black Widow. Hopefully Black can give us a solid Iron Man adventure and not just a Tony Stark focused soap opera.