iMovie: Cannot Open; "SoundLib--SoundConverterSetInfo" Not Found

When opening iMovie, you may receive an error stating that iMovie could not be opened because "SoundLib--SoundConverterSetInfo" cound not be found.
Make sure the Sound Manager extension is enabled. Use the Extensions Manager control panel for this task. If the Sound Manager extension is turned off, turn it on and restart the computer.

If the Sound Manager extension is not present, install QuickTime and any applicable QuickTime Updates.
Published Date: Feb 18, 2012