Just updated Android-Studio to version 0.2.7 an now I get the error message from the title:
I managed to fix my project through some combination of invalidating Android Studio cache, deleting .idea and .gradle directories and .iml files, restarting Studio, and reimporting the project:

on Mac OSX using Homebrew, brew install gradle then pick local gradle distribution and point to /usr/local/Cellar/gradle/1.7/libexec for gradle home:
