I'm having the same problem. Upon contacting Acer, I got this:
In order to resolve the issue please do a recovery using the rcd.
Please follow the link in order to resolve the issue.
Note: Make sure to take back up of your machine as there will be a possible data loss.
Please follow the link in order to purchase the RCD.
Recovery disc charge would be $19.95
Note: There would be a data loss if you are using RCD. So please take back up of your data before you do a recovery. To take a back up, you can contact Answers by Acer which is a paid support or else you can take the system to any local store nearby
Otherwise contact out "Answers by Acer" on 1-800-237-6483 at a rate of $2.95 per minute with the slots 30 minutes ($59.99), 90 minutes ($129.99), or 15 issues ($199.99) and the validity will be 1 year which can be billed to a credit card.
For further clarifications please feel free to visit our web site http://support.acer.com/
Thank you for contacting Acer,
Have a great day!