The Company She Keeps might be viewed as John Cromwell's soft-hearted "sequel" to his great Caged of the same year (some of the same cast members reappear in small parts in both). Taking over the Eleanor Parker role -- the embittered parolee with a chip-on-the-shoulder attitude -- Jane Greer finally goes "freeside." Lizabeth Scott meets her at the train, not as a mentor into the world of vice but wasted as Greer's saintly parole officer. Greer makes it plain that she's none too happy with the constraints (a night-shift job, frumpy clothes, no drinking) imposed upon her, and promptly sets her hat for Scott's fiance Dennis O'Keefe, who tumbles right into it.
And this is where Ketti Frings' script loses whatever edge it had. The hard, manipulative Greer goes soft around the edges, conflicted and vacillating. Scott, meanwhile, magnanimously cedes O'Keefe to her rival and continues to advocate on her behalf with redoubled passion (an opposite change of heart would have furnished welcome friction).
Luckily, a few goblins still hover in the shadows, and, in a brief scene set in Los Angeles' municipal lockup, Cromwell manages to reprise some of the black magic of Caged. But the syrupy social messages and Frings' earnest kind-heartedness almost sink the movie, which nonetheless preserves one of Greer's rare appearances in the noir cycle, particularly savory at the movie's start and near its end. Just don't expect another Kathie Moffat from Out of the Past.