red herring
noun(red her-ring)
a dried and smoked herring having a reddish color
Synonyms: smoked herring,
red herring
noun(red her-ring)
a first draft of a prospectus; must be clearly marked to indicate that parts may be changed in the final prospectus
Synonyms: preliminary prospectus,
Examples:
Because some portions of the cover page are printed in red ink a preliminary prospectus is sometimes called a red herring.