The latest PPA (0.122ubuntu8.3+lp1631474b2) passes verification for me.

$ cat /proc/cmdline 
root=LABEL=cloudimg-rootfs ro console=hvc0 ip=dhcp tsc=reliable 

$ dpkg -l|grep initramfs-tools
ii  initramfs-tools                  0.122ubuntu8.3+lp1631474b2      all        
  generic modular initramfs generator (automation)
ii  initramfs-tools-bin              0.122ubuntu8.3+lp1631474b2      amd64      
  binaries used by initramfs-tools
ii  initramfs-tools-core             0.122ubuntu8.3+lp1631474b2      all        
  generic modular initramfs generator (core tools)

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https://bugs.launchpad.net/bugs/1631474

Title:
  No networking with initramfs-tools 0.122ubuntu8.3 and ip=dhcp boot
  option

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