En MSDN esta este ejemplo ve la validación
Código vb:
Ver originalPrivate Sub ListBox1_SelectedValueChanged(ByVal sender As Object, ByVal e As EventArgs)
If ListBox1.SelectedIndex <> -1 Then
textBox1.Text = ListBox1.SelectedValue.ToString()
' If we also wanted to get the displayed text we could use
' the SelectedItem item property:
' Dim s = CType(ListBox1.SelectedItem, USState).LongName
End If
End Sub 'ListBox1_SelectedValueChanged
ListBox1.SelectedIndex <> -1
http://msdn.microsoft.com/en-us/library/system.windows.forms.listcontrol.selectedvalue.asp x