I would guess that it means 'A dead man doesn't have any friends'. I don't think there's any kind of hidden meaning, at least none that I can fathom, but it may be a proverb of some kind. It would be good if you could tell us exactly where (in what kind of text) you found the sentence. My guess is that it's a newspaper headline or something similar, and that's why the article has been left out. For more info on this kind of 'newspaper (headline) language', you can look in Swan's "Practical English Usage".

CMF

I'm a non-native speaker of English and have been teaching English for some time . I've had problems with proverbs/sayings too, from time to time; the problem gets  knotier, however, in the absence of a trail.

I tend to agree with Mr Singh. Some people - and there are numeous of those - continue to live in the hearts and minds of their surviving generations much after their passing on.

Alternatively - and this is a wild guess - the saying could refer to the summary disposal (burial/cremation) of the dead by their near and dears .

I sincerely hope someone will give us the authentic explanation soon.

Ye Gallants all, take heed how

you Come to untimely Ends;

Justice has bid the World adieu,

And dead Men have no Friends.

The ballad is fun and worth reading, warning about the dangers of getting drunk with strangers.  

I think the phrase is a warning to those who risk their lives bravely.

Google books is a great place to search for the meaning of odd phrases.