Red Herring

A draft prospectus, which has not been approved by the SEC. So called because it is required to be printed and circulated with a pink cover. The name Red Herring was used for a magazine focusing on the late 1990s and early 2000s technology boom, it went bankrupt in 2003, but was re-launched in 2004-5. The early incarnation of the magazine was widely criticized for, especially post 2002, its tendency to credulously hype tech companies, particularly Internet companies.