It is generally accepted that, when moving in groups, animals process information to coordinate their motion. Recent studies have begun to apply rigorous methods based on Information Theory to quantify such distributed computation. Following this perspective, we use transfer entropy to quantify dynamic information flows locally in space and time across a school of fish during directional changes around a circular tank, i.e. U-turns. This analysis reveals peaks in information flows during collective U-turns and identifies two different flows: an informative flow (positive transfer entropy) based on fish that have already turned about fish that are turning, and a misinformative flow (negative transfer entropy) based on fish that have not turned yet about fish that are turning. We also reveal that the information flows are related to relative position and alignment between fish, and identify spatial patterns of information and misinformation cascades. This study offers several methodological contributions and we expect further application of these methodologies to reveal intricacies of self-organisation in other animal groups and active matter in general. * emanuele.crosato@sydney.edu.au arXiv:1705.01213v1 [q-bio.QM] 3 May 2017 Nagy et al. [55] used a variety of correlation functions to measure directional dependencies between the velocities of pairs of pigeons flying in flocks of up to ten individuals, reconstructing the leadership network of the flock. As has been shown later, this network does not correspond to the hierarchy between birds [56]. Information transfer has been extensively studied in flocks of starlings, by observing the propagation of direction changes across the flocks [20,19,2]. More recently, Rosenthal et al. [69] attempted to determine a communication structure of a school of fish during its collective evasion manoeuvres manifested through cascades of behavioural change. A functional mapping between sensory inputs and motor responses was inferred by tracking fish position and body posture, and calculating visual fields.Rather than consider semantic or pragmatic information, many contemporary studies employ rigorous information theoretic measures that quantify information as uncertainty reduction, following Shannon [24], in order to deal with the stochastic, continuous and noisy nature of intrinsic information processing in natural systems [28]. Distributed information processing is typically dissected into three primitive functions: the transmission, storage and modification of information [38]. Information dynamics is a recent framework characterising and measuring each of the primitives information-theoretically [49,41]. In viewing the state update dynamics of a random process as an information processing event, this framework performs an information regression in accounting for where the information to predict that state update can be found by an observer, first identifying predictive information from the past of the process as information storage, then predictive information from other sour...