node-dev is giving Error: uv_signal_start EINVAL

Question

I have just started learning node.js and found about node-dev. When I run a simple hello world script using node-dev I get the following error:

$ node-dev script.js

node.js:762
          throw errnoException(process._errno, 'uv_signal_start');
                ^
Error: uv_signal_start EINVAL
    at errnoException (node.js:540:13)
    at process.on.process.addListener (node.js:762:17)
    at spawn.cwd (/usr/local/lib/node_modules/node-dev/node-dev:52:11)
    at Array.forEach (native)
    at Object.<anonymous> (/usr/local/lib/node_modules/node-dev/node-dev:51:25)
    at Module._compile (module.js:456:26)
    at Object.Module._extensions..js (module.js:474:10)
    at Module.load (module.js:356:32)
    at Function.Module._load (module.js:312:12)
    at Function.Module.runMain (module.js:497:10)

There are some questions tagged to node-dev but none of them have any solution. It would be great if anyone can point me to the right direction to solve this problem.

OS and Node Versions

OS: Ubuntu 12.04
node: 0.10.22
node-dev: 2.1.4
filewatcher: 1.0.0
growl: 1.7.0