Nope, the game registers the player's death before the opponent. I've had this a couple of times on After School Special and sometimes on Anger Management because Biofeedback works in the same sort of way. I suspect something similar might also happen if both players die from Lonesome Lenny, though I haven't witnessed it.
Yeah it makes sense in most of the game modes but it's most annoying in PF where the enemy has a sheer power advantage already and are basically compensated, especially on that Medici event with the biased fight conditions. Stacks up too high. But then again, I'm of the opinion that LNM and Biofeedback shouldn't be able to kill at all, so it's all personal views in the end.