The Foxes rejected a £2m bid for the 20-year-old centre-back earlier this month.
"We've had a couple of bids that we have turned down for Liam," Pearson told BBC Radio Leicester.
"I don't know if [the transfer rumours] are legitimate or not? I just keep smiling.
"In some ways it is quite flattering when players are linked to Premier League or other high-profile foreign clubs, but it's that stage of the season where there is going to be speculation."
Leicester currently sit top of the Championship.