There are a few possible reasons for this that come to mind:
- DNS settings may be wrong. Remove any manually configured DHCP server addresses and let DHCP supply them.
- Ethernet may have manual IP that matches the subnet but is otherwise wrong. Set it to DHCP.
- Lion Server (not client) may have a bug where the gateway address is static for the primary network interface, even if that interface is set to DHCP. I've not delved into this issue enough to find a proper solution. I installed Lion Server on my own laptop and have run into this issue. I've so far only been able to fix the issue temporarily at the command line by manually modifying the routing tables (netstat and route).