red herring

Noun
  1. Any diversion intended to distract attention from the main issue (synset 100351704)
  2. A dried and smoked herring having a reddish color (synset 107814209)
  3. A first draft of a prospectus;
    Must be clearly marked to indicate that parts may be changed in the final prospectus (synset 107180429)
    "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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