Rolling Stone retracted an explosive article detailing an alleged gang rape at a University of Virginia fraternity after Columbia University’s Graduate School of Journalism concluded that the story was a “journalistic failure that was avoidable.”

The Rolling Stone story was written by Sabrina Rubin Erdely and published last November under the headline “A Rape on Campus.” It sparked a national uproar over sexual misconduct at college campuses. At UVA, President Teresa Sullivan suspended all Greek activities for six weeks and...