Minecraft Crashes due to Java Platform SE binary Error

Minecraft continues to crash after I downloaded the latest version of Java, and got the error message featured in the attachment.

[19:37:11 FATAL]: Fatal error launching game. Report this to http://bugs.mojang.com please!
java.util.ConcurrentModificationException
	at java.util.ArrayList$Itr.checkForComodification(Unknown Source) ~[?:1.8.0_66]
	at java.util.ArrayList$Itr.next(Unknown Source) ~[?:1.8.0_66]
	at net.minecraft.launcher.updater.MinecraftVersionManager.getInstalledVersions(MinecraftVersionManager.java:185) ~[launcher.jar:1.6.44]
	at net.minecraft.launcher.Launcher.cleanupOrphanedVersions(Launcher.java:431) ~[launcher.jar:1.6.44]
	at net.minecraft.launcher.Launcher.performCleanups(Launcher.java:495) ~[launcher.jar:1.6.44]
	at net.minecraft.launcher.game.MinecraftGameRunner.launchGame(MinecraftGameRunner.java:231) ~[launcher.jar:1.6.44]
	at com.mojang.launcher.game.runner.AbstractGameRunner.onDownloadJobFinished(AbstractGameRunner.java:186) [launcher.jar:1.6.44]
	at com.mojang.launcher.updater.download.DownloadJob.popAndDownload(DownloadJob.java:122) [launcher.jar:1.6.44]
	at com.mojang.launcher.updater.download.DownloadJob.access$000(DownloadJob.java:12) [launcher.jar:1.6.44]
	at com.mojang.launcher.updater.download.DownloadJob$1.run(DownloadJob.java:86) [launcher.jar:1.6.44]
	at java.util.concurrent.Executors$RunnableAdapter.call(Unknown Source) [?:1.8.0_66]
	at java.util.concurrent.FutureTask.run(Unknown Source) [?:1.8.0_66]
	at java.util.concurrent.ThreadPoolExecutor.runWorker(Unknown Source) [?:1.8.0_66]
	at java.util.concurrent.ThreadPoolExecutor$Worker.run(Unknown Source) [?:1.8.0_66]
	at java.lang.Thread.run(Unknown Source) [?:1.8.0_66]
[19:41:37 ERROR]: Game ended with bad state (exit code 255)