The Foxes boss - the centre of sacking speculation on Sunday - was involved in a bizarre flashpoint with the Crystal Palace midfielder in Saturday's 1-0 defeat to the Eagles.
The pair collided during the game before Pearson appeared to grab McArthur by the throat before holding onto his shirt to prevent him rejoining the game.
And Pearson thought the way it was covered by Gary Lineker, Danny Murphy and Jermaine Jenas was unfair.
Nigel Pearson: "It's not helpful when the three fountains of knowledge on Match of the Day make a mountain out of a molehill, there's nothing in that on Saturday. The lad's OK and it was very light hearted.
"How it was reported was totally inaccurate. Our owners are fine, as they were with the incident with the fan (when he was involved in a row with a supporter against Liverpool in December). You're looking for news which is not there."
Pearson said afterwards he could "look after himself" and Lineker responded by tweeting: "Ah Nigel Pearson is blaming MOTD for making a mountain out of a molehill. We'd best be careful in future, the fella can look after himself."
Former Leicester and England striker Lineker then insinuated Pearson was sacked by a member of the Srivaddhanaprabha family, who own the club, before being reinstated by another on Sunday.
Speculation was rife on Sunday Pearson had been sacked, with Leicester bottom of the Barclays Premier League.
There was a near four-hour silence from the club from when the first claims emerged until they issued a statement insisting Pearson was still in charge.