Many users out there have been facing Launchd errors while installing or downloading the Corona 5.0.1 Untether jailbreak package for pre-A5 devices. Earlier today, Saurik tweeted that the updated version of the package is now live in Cydia.
This updated version of Corona (version 1.0-4) fixes the iBooks crash issue that many users were facing, and it also fixes launchd errors while installing the Corona 5.0.1 Untether package.
If you have already installed Corona, just launch Cydia and install the update when prompted to do so. If you used RedSn0w to jailbreak, just go to Cydia and install Corona from there. Supposedly, this will fix any issues you have been experiencing.