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.