Mac OS X Lion 10.7.4 (11E2617)

Is this for one of the new models? If so it's a special build of Lion 10.7.4. The public 10.7.4 release from the App Store will not work on your computer. You can only use a version obtainable through Internet Recovery - OS X Lion- About Lion Recovery.

What computers and sources of Lion are involved here? With Lion, Apple changed how things were done with licensing. I don't know, for example, if you get Lion with a particular machine if the license to use it is linked to that machine and that machine only, but if you get it as an upgrade you can, of course, install it on multiple machines.

Kappy's directions for making a bootable Lion installer disk (hard drive or USB flash) - https://discussions.apple.com/thread/3809739?answerId=17871559022#17871559022 - including link to how to get an installer file if you didn't save it earlier.

Unfortunately, the link for getting specific hardware versions has disappeared. So basically:

1. Get yourself a spare hard drive freshly erased or with a freshly erased partition of around 8 GBs or more.
2. Boot to your Recovery HD. Select Reinstall Lion from the main menu.
3. From the beginning screen select your spare partition/drive as the target destination then begin the download.
4. At the end of the download you will observe an Install button for you to click. Now this is important - as soon as that gadget appears you must abort the installation process. There are only two reliable ways to do this quickly: a. yank the cable for the drive from the computer; b. pull the power on the computer - shut it down quickly.

This will result in your finding a folder on the drive that contains InstallESD.dmg that you can now use to create a bootable USB flash drive installer based on the special build for your model. Use it until the next public release of Lion appears or you move on to Mountain Lion.

If you do not stop the download process immediately upon its completion you will end up with an installer that always boots to a non-functioning installation progress window instead of the normal main menu.

FWIW, some searching has uncovered the original information from the article that is no longer present. Here's the original information:

Downloading Hardware Specific Lion Installers

The updating process is ongoing. However, there is no specific schedule for updates. We are up to five for Lion with Mountain Lion's release just around the corner. Snow Leopard had nine releases - 10.6.0 - 10.6.8. Snow Leopard was around for about 18 months before Lion's release. Lion has only been around about one year.