No he does not, he is rescued by the Asian branch and is held in there until he recovers.
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Allen Walker Read died in 2002.
End of the Episode 166
final chapter Ranma & Akane
he almost died in episode 7 when he got his chest slashed
In the episode "The Final Show/down", Alex does not die. She brings home baby Angela Walker to a house full of welcoming guests. Not long ago, there was another movie brought out where she is shot in the courthouse in the last few seconds of the movie, but the outcome has yet to be seen. Cliffhanger!