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Working titles for this film were Mr. Shadow and The Shadow. Cinematographer Marcel Le Picard's surname is misspelled "Pickard" in the onscreen credits. Studio publicity material indicates that the film was intended to be the first in a series of four "Shadow" films starring Rod La Rocque. A second Colony "Shadow" picture, entitled International Crime, was released in 1938, but no subsequent "Shadow" films were produced by the studio. Studio publicity records also note that producers Max and Carl Alexander were nephews of Carl Laemmle, and that Lynn Anders, formerly known as Agnes Anderson, had her name changed at the request of studio officials. Maxwell Grant, the author of the short story on which the film is based, also wrote under the name Walter S. Gibson.
The "Shadow" stories were first popularized on the radio when the series began in August 1930. Orson Welles, who played "The Shadow" in 1937 Mutual radio shows, is perhaps the best known "Shadow," but the series continued until December 26, 1954. Other films based on the character created by Maxwell Grant include a series of short films produced by Universal, begining with the 1931 film A Burglar to the Rescue, directed by George Cochrane; and a 1946 Monogram film entitled The Shadow Returns, directed by Phil Rosen and starring Kane Richmond and Barbara Reed. In 1994, Russell Mulcahy directed Alec Baldwin and John Lone in The Shadow.