When i googled it, I got that its invalid path, But i pulled another four reports from the same path but they came up finely with out any issue.
Though i changed the location, the same thing is coming up with another report which i need it too..
I had earlier faced similar kind of issue when using Siebel system. It was identified as a bug and Oracle released a patch for it. This happens when OBI is integrated with another system and might be because of Multi Lingual Implementations. Special Characters in the path is what i mean. For my case BUG:13805145 helped me. Check this Oracle Document [ID 1493798.1] as well for more information.
I suggest to open an SR with oracle it might be a bug as well.