The term red herring refers to ________.
A) the fact that most firms conducting an IPO are losing money, also known as running red ink
B) a firm that is conducting an IPO without fully complying with all government regulations
C) the fact that IPOs are typically underpriced
D) an early version of the prospectus with red printing to indicate that the information the document contains is not final
D) an early version of the prospectus with red printing to indicate that the information the document contains is not final
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