The Foxes currently find themselves at the foot of the Premier League standings, four points from safety, after suffering their third straight loss on Sunday and their 15th of the season.
However, despite their plight the Leicester board are standing by the man who guided them to promotion to the Premier League.
"Contrary to media speculation on Sunday evening, Nigel remains the Club’s First Team Manager. Reports to the contrary are inaccurate and without foundation," the club said in a statement.
"Nigel, his staff and the first team squad are entirely focused on Tuesday night’s trip to Arsenal and our continued efforts to secure our position in the Barclays Premier League."
The weekend's defeat to Crystal Palace included a bizarre clash between Pearson and Palace's James McArthur, with Pearson appearing to playfully grab the midfielder around the throat after the pair had collided on the touchline. However, the Leicester boss then refused to let McArthur return to the field of play, holding onto his jersey before the fourth official intervened.
It is not the first time that it is not results alone that have put Pearson under pressure, with the manager having clashed with a fan earlier in the season.