Hull head of football operations Pearson has been sacked but owners Assem and Ehab Allam have still refused to confirm whether or not manager Nick Barmby has been suspended.
Pearson, 47, who spent six years as chairman of the club from 2001, has had his consultancy role terminated "without notice and without compensation".
In a statement, Pearson said: "I wish to register my extreme surprise and disappointment at the sudden and in my view totally unjustified termination of my agreement.
"I had very much been looking forward to assisting in the development of a successful Hull City squad this summer.
"I have enjoyed my association with the club and wish them success in the future. This matter is now in the hands of my lawyers and I will be making no further comment until its resolved to my satisfaction."
Earlier on Tuesday when announcing Pearson's sacking, the Allams refused to respond to speculation that Barmby had been suspended for comments made about the club's financial situation and have still left the club's fans in the dark as to the 38-year-old's future.
A club statement issued on Tuesday morning read: "When we acquired the football club we made it clear we would run it in accordance with sound and proper business principles and procedures. We have not and will not deviate from those principles.
"Therefore although we fully appreciate the supporters' and media's desire for information we cannot comment on the manager's position at the present time. We will however provide further information when we are able to do so.
"Having listened to media speculation over funds not being available in the January transfer window, we reiterate that funds were available as previously stated by us.
"We also confirm the club has terminated the consultancy agreement with Adam Pearson without notice and without compensation. We are also aware of speculation about the club being up for sale. We can categorically confirm there is no truth in that rumour and we are fully committed to Hull City and its future."