Looks like the hard drive has failed or becaome corrupted.
Does it boot up? If so, format the hard drive. Then you can restore your samples and projects from your most recent backup. You do make regular backups, don't you?
There are perhaps a few reasons your MV might display that message.
The important question here is when is that message displayed.
Are you trying to sample from your disc drive? If so have patience and let the MV read the disc. I have personally seen that message when sampling from the disc drive. It was my own fault.
If that is not the problem but you are trying to sample from the disc drive, make sure the MV can read what is on the disc.
I'd love to try and help. I just need more details.