Who died? The guy that Lex hired to find dirt on Jonathan. The guy called Lex to say he had something, but Lionel showed up at the meeting instead. We saw Lionel look at, and then burn the info the guy had dug up. Lex assumes that his dad was responsible for the guy's death.
So why was Lois holding a gun to shoot Clark's dad? The girl in charge of the Students for Lex campaign (the girl who took the photo with Lex in his office) was psycho. She decided to do everything in her power to help Lex win (she even shaved her head to show her devotion to him.) She held a gun to Lois' head to try and make her kill Jonathan. Lois managed to fight her way out of it while Clark caught the bullet (all without being noticed while in a room full of people!).
You can find my stories as Groobie on the nfic archives and Susan Young on the gfic archives. In other words, you know me as Groobie.
I just moved this topic from Lois & Clark, as this is the correct folder. Also, I added the word 'spoiler' to the topic so people are warned if they haven't seen the episode yet.