If a contingent liability is only a possible liability, why might not disclosing contingent liabilities constitute financial

Question:

If a contingent liability is only a possible liability, why might not disclosing constitute financial statement fraud?

Contingent liabilities
A contingent liability is an obligation of business related to an uncertain future event. The business must record it in its financial statements if the amount can be reliably estimated and it is probable that amount will be paid by business as a...