If this rumor is true, Gearbox's Randy Pitchford wasn't lying when he said that Borderlands 3 wasn't yet in development at the studio. The latest rumor going around is that the next Borderlands title is a "pre-squel" and is actually going to be pegged as Borderlands: The Pre-Sequel.

What this means is that the next game will take place in the span of time between the first Borderlands game and Borderlands 2. You will reportedly play as four new characters and it will take place on the moon above Pandora, including the H-shaped station above the planet.

It's reportedly going to come out for the Xbox 360, PlayStation 3, and PC platforms and is in development at 2K Australia.

(via Joystiq)