Line fault at the outlet -- do I need an electrician?


Yesterday, I got a Panamax, Max 1500 surge protector and line conditioner. (I got a very good deal on it, and am just trying it out.)

I plugged it into an outlet I've been using for a while and one of the red lights on the front lit up saying "line fault." (I'm not sure how this is different from a "ground fault." Maybe it's the same.) The Panamax does not do this with other outlets in the room. They seem ok.

So, I know this means that the outlet is improperly wired. My question is, might this be a simple thing to check and/or fix? Any suggestions most appreciated. It's the only outlet I can use to have my audio set up where I usually have it. Now is not an optimal time to call an electrician. If this is a big problem, I'll try out my gear somewhere else in the room, but if I can fix this without too much expertise, that would be ideal.
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 Could just be that the outlet is wired wrong. Go to Home Depot or Lowes and buy a plug in tester. It will check polarity, open ground etc.
No, it's not GFCI, just an outlet run down from another one in the room.

I could get a tester if that could tell me that what is wrong is something I could fix myself (assume I have no knowledge, except to turn off the breakers). The Panamax is already showing that it's reading below 115 v and has a fault of some kind.
It usually means the receptacle is wired wrong or wire is loose  or is bad.