Files not found - "file://" precedes their path

I am having that commonly reported problem where random songs in my library have the exclamation point next to them because iTunes cannot find them. Upon closer inspection of the file info ("Get Info") I see that for all the files that are unplayable thy have "file://" preceding their path which shows their location in the file system. The path is otherwise correct.

I haven't a clue what would have causes this. I made no changes to my library before this happened. Also, this seems to be an ongoing problem and continues to recurr. Aside from stopping this behavior, is there a way to clean up the file paths so I can fix the files that have this goofy path?