The ListView.ColumnReordered event is a cancelable event and can be canceled by handling the event and setting the System.ComponentModel.CancelEventArgs.Cancel property to true. However, if the event is canceled, the ColumnReorderedEventArgs.NewDisplayIndex of the System.Windows.Forms.ColumnReorderedEventArgs will not change to the ColumnReorderedEventArgs.OldDisplayIndex value.
For more information about handling events, see Consuming Events.