While this is not always the case, often films that have slipped into the public domain are not all that good--orphans from studios that would sooner pretend they didn't exist! In other words, the film was a stinker so they didn't bother to renew the copyright. But, in the case of "Dishonored Lady", the film is pretty good and you wonder why it's included with these clunkers.
The film begins with Hedy Lamarr behaving like she'd like to die--though she denies she has a problem. She also is apparently 'a bad lady' though the film only implied what this means--and I do think this is one case where the requirements of the Production Code harmed the movie. Had they said she had been very sexually active, what happened throughout the film would have made a lot more sense.
Regardless, a kind psychiatrist sees a sad and sick lady and offers to help. They make some progress and Hedy decides much of her problem is the company she keeps, so she quits her high-paid job and leaves all her old 'friends'. With a brand-new identity, she takes joy in a simpler and less salacious life. She also meets a nice guy (Dennis O'Keefe) and they fall in love. However, she does not tell him about her past--and eventually this comes between them. I could say a lot more, but I'll leave it up to you to find out for yourself.
The film had some nice performances. While Hedy is a bit wooden, she often was wooden--and it's probably one of her better performances. While O'Keefe is a lesser-known actor, he was also very good--and I liked him at the end in a very rough and tumble scene. The script was nice as well--with my only real complaint being the vagueness of Hedy's past. Worth seeing, though by no means a great film.
By the way, if you do see this movie, get a load of the crazy wardrobe Hedy wears through much of the film. NO ONE ever dressed like this--not that chic and well-coiffed. In fact, I found it a bit laughable that she looked like she stepped off a fashion runway every time she went to work!