Updated Android studio to 1.2.2 and the background process wont end.(Refreshing \'MemoryCards\' Gradle project).
It has been more than an hour now and its still busy?
Answer of Lloric is the perfect answer.
Go to Settings > Build Tools > Gradle
Then change the Gradle Home
path to the existing path.
Probably you are facing problem now with gradle-2.10
Browse directory, you will find out gradle-2.14.1
as of mine or later versions.
Change it to that then rebuild your project.