The Collaborative International Dictionary of English v.0.48:

Misread \Mis*read"\, v. t. [imp. & p. p. Misread; p. pr. & vb.
   n. Misreading.]
   To read amiss; to misunderstand in reading.
   [1913 Webster]

WordNet (r) 3.0 (2006):

misreading
    n 1: misinterpretation caused by inaccurate reading