Though there are lot of options available if you google for the same that says change ownership permission for cvs directory etc., but if your problem is not solved even after trying all the other methods do this, it may save your day.
Install libevent greater than 1.4.x Compile memcached and use --with-libevent=[ place where libevent is insalled ] before you start memcached create link in /usr/lib for all the libevent library files. You are good to go.
I have been seeing a window pop up with this error message every time I start my system "Generic Host Process: Application error - [ Memory Address ] referenced memory at [ Memory Address ]. The memory could not be 'written.'" even after I removed a trojan W32.Spybot.ATEW. Regular scans by Symantec AV and also Trojan Remover didn't report any malware. I searched for SVCHOST.EXE and I found this prefetch in %SystemRoot%\Prefetch
I deleted it and rebooted my system. The error has disappeared.
For all kind of memory related problems for any of windows OS applications like svchost.exe, regsvr32.exe, etc., you can follow this article to resolve it. Say, if you have cleaned your system of Trojans and Viruses, you must also check the prefetch folder under WINDOWS directory for the file names that have similar file names as the application name displayed in error window. If you find any, its recommended to delete these files and reboot the system.