When you get an exception that you have never seen before, and you are not sure what it means, the best thing to do is to paste the error message into the search box of your favourite search engine.
I have just done this with your error
Some or all identity references could not be translated and all of the first couple of pages were concerned with systems running SharePoint. Does this apply in your case? If so I would suggest that you do a search yourself and work your way through any likely looking hits.
If it is not a SharePoint system then
this[
^] thread seems to suggest that an invalid user might be the cause, although, of course, this may not apply in your case.
I found this thread by searching for
directorysecurity "Some or all identity references could not be translated". If you need more then I would suggest that you do the same and, again, work through the hits until you find something that fits your situation.