The Collaborative International Dictionary of English v.0.48:

Misleading \Mis*lead"ing\, a.
   Leading astray; delusive.
   [1913 Webster]

The Collaborative International Dictionary of English v.0.48:

Mislead \Mis*lead"\ (m[i^]s*l[=e]d"), v. t. [imp. & p. p.
   Misled (m[i^]s*l[e^]d"); p. pr. & vb. n. Misleading.]
   [AS. misl[=ae]dan. See Mis-, and Lead to conduct.]
   To lead into a wrong way or path; to lead astray; to guide
   into error; to cause to mistake; to deceive.
   [1913 Webster]

         Trust not servants who mislead or misinform you.
                                                  --Bacon.
   [1913 Webster]

         To give due light
         To the mislead and lonely traveler.      --Milton.
   [1913 Webster]

   Syn: To delude; deceive. See Deceive.
        [1913 Webster]

WordNet (r) 3.0 (2006):

misleading
    adj 1: designed to deceive or mislead either deliberately or
           inadvertently; "the deceptive calm in the eye of the
           storm"; "deliberately deceptive packaging"; "a misleading
           similarity"; "statistics can be presented in ways that
           are misleading"; "shoddy business practices" [syn:
           deceptive, misleading, shoddy]