The Spence for Governor campaign is also asking television stations around the state to "cease and desist" playing an ad Spence says is false and defamatory.
On Friday, television stations running the ad for Governor Jay Nixon received a letter from Kansas City attorney Edward Greim saying the stations must stop airing the ad because Greim says it is known to contain false information.
The ad in question accuses Spence of securing an insider loan from a bank where he was a board member to build a vacation home at the Lake of the Ozarks. Spence was on the board of Reliance Bancshares, after it took a $40 million federal bailout in 2008. The bank did not repay that bailout.
Greim says the ad suggests Spence used the bailout money in securing the loan.
In the letter, Greim does not mention any legal action the Spence for Governor campaign might take if stations to not pull the ad.
The Nixon campaign is not likely to pull the ad on its own.