In actkm I found a list of references to KM failure stories
Here I only list the failure reasons to make it easy for you. For more details you should read the stories

• overreliance on a database for problem solving
• to replicate the same knowledge-management system across different departments
• the original team of contributors in a project ends up squeezing out any knowledge from outside the core group
• the Field of Dreams trap: “Don’t assume that if you build it, they will come.” There was no incentive for anyone to invest time and energy to solve other people’s problems
• no process to monitor the quality of the written contributions
• expecting new technology and reengineering of processes to produce a collaborative, sharing culture, where the company’s greatest need was not new technology but a culture modification program to prepare for a KM initiative
• Management says they want it, but everything they do is opposed to it
• belief that professional standing depends on what you know that others don’t
• Technological incompatibility : each file had to be translated to a spreadsheet before transmission
• A respected head of KM at a large multinational consulting firm, who had her budget cut to nothing by senior management
• Defining knowledge within functions or silo-oriented communities of practice does not work. Instead define knowledge at the level of business processes.
• forgetting that a knowledge management initiative must relate knowledge to people’s day jobs.
• Attempting to apply Information Technology to tacit knowledge. This is fraught with difficulty. Instead, it is explicit knowledge that is most susceptible to the application of Information Technology.
• Failure to carefully manage external input to knowledge management initiatives managed to ensure people within the organization are in control of the initiative at all times.
• Failure to understand the organization’s willingness to change and to manage people’s expectations appropriately.

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• Oh when will they ever learn?