The law firm of Izard Nobel LLP, which has significant experience representing investors in prosecuting claims of securities fraud, announces that a lawsuit seeking class action status has been filed in the United States District Court for the Southern District of New York on behalf of those who purchased Biovail Corporation (Biovail or the Company) (NYSE: BVF) between December 14, 2006 and July 19, 2007, inclusive (the Class Period).