Cannot transfer new files or open old ones

sapphire E_IO_Cannot_open - failed to write destination file

I get this every time i try to transfer a book to my kobo. I had adobe digital 1.0 this morning and updated it to 4.0 this afternoon and now i cannot do a thing and most of my books tell me now that i do not have permission to read them!! (it states ii need a adobe password)

Please help