Definitions of red herring:
- noun: any diversion intended to distract attention from the main issue
- noun: a dried and smoked herring having a reddish color
- noun: a first draft of a prospectus; must be clearly marked to indicate that parts may be changed in the final prospectus
Example: "Because some portions of the cover page are printed in red ink a preliminary prospectus is sometimes called a red herring"
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