red herring (n.)any diversion intended to distract attention from the main issue;
red herring (n.)a dried and smoked herring having a reddish color;
Synonyms:Â smoked herring
red herring (n.)a first draft of a prospectus; must be clearly marked to indicate that parts may be changed in the final prospectus;
because some portions of the cover page are printed in red ink a preliminary prospectus is sometimes called a red herring
Synonyms:Â preliminary prospectus