My early 2011 MacBook pro just got restarted and I've got the same problem. However, the HD is locked when I try and reinstall Lion. I've tried sudo to change permissions but it's not available in terminal. Anyone kow how I can reinstall?
I do have a carbon cloned copy of my HD on my Drobo but would rather not use it.
Apple have really let people down here. Any automated software update that fries your computer? Imagine if Microsoft and done that!