On February 26th, 2024, Nintendo of America Inc. filed a federal lawsuit in the District Court of Rhode Island against Tropic Haze LLC, the makers of the Switch emulator Yuzu.
If they file a suit against the makers of Ryujinx, another Switch emulator, before 1st January 2027, this question will resolve yes.
My rationale for betting no:
If Nintendo wins the suit against Yuzu, Ryujinx will likely wind down operations or restructure things to ensure compliance with (or at least, avoidance of) any new legal precedent. I don't think they're profit-motivated, so will do their best to minimise legal risk - i.e. its in their best interests to avoid legal confrontation. Thus, I don't think there'd be any need for Nintendo to try to sue them in the first place.
If Nintendo loses the suit against Yuzu, they're unlikely to go after Ryujinux. They almost certainly picked Yuzu because they felt their case there was stronger, and if they can't win that one then they have little reason to expect to win against Ryujinx.
So iiuc, yuzu has settled out of court - https://www.theverge.com/2024/3/4/24090357/nintendo-yuzu-emulator-lawsuit-settlement
Which foolishly is not something I considered in my initial analysis - I'm now uncertain, so I'm backing out of my bet!