Michael Bay has responded on his website regarding the so-called leaked Transformers 4 script:
Some Internet sites this morning reported that some document recovery guy has found a legitimate 120 page script of Transformers 4. I can absolutely 100 percent say this is completely false. The only two people in the world that have our unfinished script are Kruger and myself. Also we are only up to page 70 in our T4 script. Maybe this guy has a cartoon or something else – but definitely not our movie!
After reading what Bay had to say, I read through the summary of the "leaked" script since I knew I couldn't be spoiled and I now feel silly for reporting on it. It's full of inconsistencies and it looks to have a character list that some G1 fan has a wishlist for. Some of those characters are the Dinobots, the same characters that Bay vowed to never put in a Transformers movie because he doesn't see how they could fit in live. There's also the fact that the script includes the character Circuit Breaker. Although she is a Transformers character, that character belongs to Marvel/Disney, which means that Paramount Pictures would have to pay a hefty price to use her in Transformers 4.
In the end, the script is false, but this false news has caused some real production progress news to surface. According to Bay, the script is written up to page 70, which actually isn't as much as I'd expect.
Stick around for more Transformers 4 news as it happens!