red herring Meaning, Definition & Usage

1. noun any diversion intended to distract attention from the main issue
   
2. noun a dried and smoked herring having a reddish color
   smoked herring.
   
3. noun a first draft of a prospectus; must be clearly marked to indicate that parts may be changed in the final prospectus
   preliminary prospectus.
   
   • 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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