Virtual Box Error Result Code: NS_ERROR_FAILURE (0x80004005)

After doing an update on a Ubuntu 12.04 desktop with VirtualBox installed there was a problem starting any of the virtual machines. Each try to start a virtual machine the error in the screenshot below would pop up and not allow the virtual machine to start.

Result Code: NS_ERROR_FAILURE (0x80004005)
Component: Machine
Interface: IMachine {22781af3-1c96-4126-9edf-67a020e0e858}

To fix this problem run the command below.

sudo /etc/init.d/vboxdrv setup